Sign In  |  Register  |  About Burlingame  |  Contact Us

Burlingame, CA
September 01, 2020 10:18am
7-Day Forecast | Traffic
  • Search Hotels in Burlingame

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Accenture to cut 19,000 jobs globally

Accenture announced that it plans to lay off 19,000 employees as it works to streamline operations amid the uncertain economic environment. However, it's still hiring.

Professional services company Accenture plans to cut 19,000 jobs worldwide over the next 18 months in order to trim costs amid the tumultuous economic environment. 

Most of the cuts will impact those working in the company's non-billable corporate roles, Accenture said in a Thursday filing with the Securities and Exchange Commission (SEC). 

Overall, the layoffs will equate to about 2.5% of its global workforce.

VIRGIN ATLANTIC CEO: TECH LAYOFFS WILL IMPACT AIRLINE INDUSTRY

"During the second quarter of fiscal 2023, we initiated actions to streamline our operations and transform our non-billable corporate functions to reduce costs," Accenture said in the filing.

The company – which helps businesses and governments worldwide optimize their operations, also consolidated office space in its effort to minimize overhead costs. 

In total, Accenture expects this plan to cost $1.5 billion.

The company still plans to hire for certain roles, "especially to support our strategic growth priorities" Accenture said.

DISNEY MANAGERS TOLD TO IDENTIFY LAYOFF CANDIDATES, WITH 4K JOB CUTS EXPECTED BY APRIL: REPORT

The move comes as layoffs sweep technology and other sectors. 

In recent months, companies including Amazon, Google parent Alphabet, Twitter and Microsoft are feverishly trying to tighten their belts after over-hiring during the COVID-19 pandemic. 

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The companies benefited from a surge in demand for their products and services when people were forced to work remotely. 

Since January, more than 152,000 global tech workers have been laid off, according to Layoffs.fyi, a website that tracks job cuts in the industry. 

The Associated Press contributed to this report. 

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Burlingame.com & California Media Partners, LLC. All rights reserved.