City
Epaper

Global IT services firm Accenture slashes 19K jobs, tech mayhem deepens

By IANS | Updated: March 23, 2023 17:20 IST

New Delhi, March 23 Global IT services firm Accenture, which has a large presence in India, on Thursday ...

Open in App

New Delhi, March 23 Global IT services firm Accenture, which has a large presence in India, on Thursday announced to lay off nearly 19,000 employees amid the challenging global macro-economic conditions and slow revenue growth.

Delivering its quarterly results for the second quarter of fiscal 2023, the company also reduced its annual revenue growth and profit forecasts.

"We are also taking steps to lower our costs in fiscal year 2024 and beyond while continuing to invest in our business and our people to capture the significant growth opportunities ahead," Julie Sweet, Chair and CEO, Accenture, said in a statement.

The company said its revenues were $15.8 billion, an increase of 5 per cent in US dollars. The new bookings were at $22.1 billion, a 13 per cent increase.

During the second quarter of fiscal 2023, Accenture initiated actions to streamline operations, transform non-billable corporate functions and consolidate office space to reduce costs.

The company recorded $244 million in business optimization costs during the second quarter and expects to record total costs of approximately $1.5 billion through fiscal 2024.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: indiaNew DelhiAccentureJulie SweetThe new delhi municipal councilDelhi south-westIndiUk-indiaRepublic of indiaIndia india
Open in App

Related Stories

MumbaiUniversity of Bristol Chooses Mumbai for Its First Overseas Campus, Set to Open in September 2026

NationalRaksha Bandhan 2025: Now You Can Send a Rakhi to Your Brother in India Post's Waterproof Envelope — Here's How to Track Your Parcel

NationalGold in Dubai Cheaper Than India: Pricing, Rules, and Import Limits Explained

NationalIndia Spends ₹1.38 Lakh Crore Annually on Edible Oil Imports

International‘This Might Hit You Hard’: NATO Chief Mark Rutte's Warning to India, China, and Brazil Over Russia Ties Amid Ukraine War

Technology Realted Stories

TechnologyStates asked to undertake regular screening to tackle rising fatty liver disease: Nadda

TechnologyAgra-born man to fly on Blue Origin’s next flight to edge of space

TechnologyWhat is ISRO’s 10-day HOPE analogue mission in Ladakh

TechnologyNFDC launches free residential VFX, animation training for Northeast youth

TechnologyKharif sowing up 4 pc, agriculture gross value added may rise 4.5 pc: Report