One after the other, the process of sacking people in tech sector companies is not stopping. Now Accenture has also announced to show the way out to 19000 people in one stroke.
Image Credit source: File Photo: Getty
Whether it’s Google, Microsoft or Amazon… In all the big tech companies of the world, winds of retrenchment are blowing. One after the other, the process of getting people fired in these companies is not stopping. Now Accenture, another big company in the tech sector, has announced to show the way out to about 19,000 people.
The firing of people by tech companies in this way is giving the sound of a big global economic crisis somewhere. Earlier, Amazon has fired a total of 27,000, Google 12,000 and Microsoft 11,000 people. While Meta (Facebook) also plans to lay off 10,000 people.
See also: Job provider Indeed will lay off 2200 people, the salary of the CEO will be less
On the other hand, the sinking of Silicon Valley Bank, Signature Bank in America and the forced merger of Credit Suisse of Switzerland with UBS are also pointing towards the economic crisis.
Company’s revenue and profit may decrease
Accenture said on Thursday that it would reduce its workforce by 2.5 percent. This number itself sits close to 19,000. Recently the company has released its third quarter financial figures. In this, it has been estimated that there may be a decrease in its annual revenue and profit.
According to the agency’s report, more than half of the 19,000 people who have lost their jobs are those who work in the company’s non-billable corporate functions.
See also: 1,400 employees wrote letter regarding retrenchment, demanded this from Google CEO
Accenture’s report says that its revenue growth can now be between 8 and 10 percent. Earlier it was estimated to be between 8 to 11 percent. In the current quarter, the company’s revenue can be between $ 16.1 billion to $ 16.7 billion.
$1.2 billion set aside for employees
Accenture says that the employees who will be fired. For them, he has separately set aside an amount of $1.2 billion. While it will do consolidation of office space with an amount of $300 million.
Accenture estimates that it can earn between $ 10.84 and $ 11.06 per share. Whereas earlier this estimate was from $ 11.20 to $ 11.52 per share.
Must see: Google Bard has arrived, will compete with ChatGPT, you can use it like this
Company CEO Julie Sweet says that Accenture is looking at more ways to reduce its costs in 2024. While the company will continue to invest in its business.