Accenture to cut 19,000 jobs, trims forecasts
IT bellwethers such as Amazon and Meta had recently announced job cuts too
Accenture Plc said on Thursday it would cut about 19,000 jobs and lowered its annual revenue and profit projections, the latest sign that the worsening global economic outlook was sapping corporate spending on IT services.
The company also trimmed its annual revenue growth and profit forecasts on Thursday, amid worries that recession-wary enterprises will cut technology budgets.
The company now expects annual revenue growth to be in the range of 8 per cent to 10 per cent in local currency, compared to 8 per cent to 11 per cent expected previously.
On Wednesday, US-based job search platform Indeed said it will cut about 2,200 jobs, or 15 per cent of its workforce, joining a host of companies rationalising their labor force following a pandemic-fueled hiring boom.
Earlier this week, Amazon.com Inc said it would axe another 9,000 roles totaling 27,000 job cuts in recent months, while Facebook-parent Meta Platforms said it would cut 10,000 jobs this year, following the first mass layoff in the fall, which eliminated more than 11,000 jobs.