Accenture To Lay Off A Mass Of Employees In India

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Accenture To Lay Off A Mass Of Employees In India
Image by Michael Gray on flickr

Recently, one of the biggest IT giants in the world, Accenture, has given indications that it will be laying off thousands of its employees as the appraisal cycle is on the way. As of now, Accenture is an employer to 2 lakh employees in India, and now thousands of them will be laid off soon probably. 

On Tuesday, an AFR (Australian Financial Review) report released the statement of Accenture CEO, Julie Sweet- “In a normal year, we transition out about 5% and we hire to replace them, because we are in a demand scenario. Right now, we’re not in a demand scenario, so if we manage out the same percentage of people and don’t replace them, it allows us to continue to invest and preserve some people who have lower chargeability for when the market comes back.” Source: Times of India. 

Sweet gave this statement in an internal staff meeting streamed online in August. 

With this, AFR has confirmed that Accenture may be looking forward to cutting at least 5% of its overall global workforce. Now according to this, the 5% workforce cut-down is expected to take away up to 10,000 jobs. 

During a conversation with TOI, a spokesperson gave an emailed statement saying- “Every year, as part of our performance process, we have conversations with our people about how they are performing, areas for improvement, their potential to progress, and whether they are a long-term fit for Accenture. This year, across all parts of our business and all career levels, we will identify approximately 5% of our people as our lowest performers, and these individuals will transition out of Accenture. This is consistent with our actions each year.” Source: Times of India. 

The statement continued- “We continue managing our business for the long-term and critical to this is ensuring we have the right people with the right skills to best serve our clients. In India, we continue to hire, and as part of our ongoing compensation programmes, we also recently recognised a number of our people with bonuses and promotions.” Source: Times of India. 

For more updates, stay tuned with us!

Source: https://timesofindia.indiatimes.com/business/india-business/accenture-to-lay-off-thousands-of-employees-in-india/articleshow/77754725.cms