Accenture is going to strip down 19000 employees.
The IT giant recently announced that they would lay off 19000 job cuts, about 2.5% of their workforce. Half of them would impact employees from its non-billable corporate functions.
Credit: Google
The layoff numbers are so high that it will take around 18 months to execute this process, and the company has set aside $1.2 Billion for employee severance.
About Accenture
Accenture plc, a professional services company headquartered in Dublin, specializes in IT services and consulting. Julie Sweet has been the CEO of Accenture since 1 September 2019. It is an Irish-American entity and a Fortune Global 500 company, with revenues of $61.6 billion in 2022. Accenture has an extensive list of clients, including 91 of the Fortune Global 100 and over three-quarters of the Fortune Global 500. As of 2022, it holds the top spot in the number of employees, making it the largest consulting firm globally.
Accenture holds business expertise in the following area or sectors:
- Accenture Strategy and Consulting offers a comprehensive range of services, including business strategy, technology strategy, and operations strategy. Additionally, we provide expert consulting in technology, business, and management to cater to a diverse range of client needs.
- Accenture Song (previously known as Digital and Interactive) offers an array of expert services such as digital marketing, analytics, and mobility to cater to the varying needs of our clients.
- The area of concentration for Accenture Technology encompasses the realms of technology software, delivery, implementation, and research & development, with designated Technology Labs dedicated to driving innovation with emerging technologies.
- Accenture Operations has adopted a service delivery approach based on the “as-a-service” model. This comprises a range of solutions, such as IT services, cloud services, business process outsourcing, and managed operations.
Credit: Google
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Company’s branding, identity, and marketing.
Accenture engaged Tiger Woods as a high-profile spokesperson and promoted its services with the trademark “Go on, be a Tiger” and the accompanying statement “We know what it takes to be a Tiger” from 2005 to December 2009.
However, due to the revelation of Woods’ extramarital affairs in December 2009, Accenture terminated the six-year sponsorship deal. The company launched a new campaign featuring its clients, including Marriott, Unilever, and the Royal Shakespeare Company, in 2011, emphasizing results-oriented advertisements with the slogan “High performance. Delivered.”
In 2015, branding consultant Interbrand recognized Accenture’s focus on branding and marketing for its Strategy, Consulting, Digital, Technology, and Operations units. Interbrand currently ranks Accenture at No. 32 on its best global brands list as of 2021.
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Other tech giant doing the same move:
Accenture is not new to this type of massive tech layoff. Tech giants like Google, Microsoft, Amazon, SAP, and many more companies have played the same move of a massive layoff of employees.
Credit: Google
- Microsoft had laid plans for job cuts throughout this year. During the first month only, they stripped 10000 employees from their business, which will end by March. During the month of July, they announced a job cut of 1%, and in October, they may eliminate 1000 employees.
- Google also joined hands with Microsoft as, like Microsoft, they also stripped down around 12000 employees from their company at the start of the year.
- Amazon also left no shock wave at low; they also announced a massive layoff of around 18000 employees from their company, mostly from Amazon stores and People Experience and Technology Solutions divisions. Rumors are there that more than 9000 employees will be eliminated in future weeks. And all these were happening when people are a New Year mood.According to the layoff.FYI, 518 tech companies have laid off 1,71,858 employees between January 1 and March 23 this year, compared with the 1,61,411 employees sacked in 2022.Also read: Bob Penny, a Forrest Gump Actor