19,000 jobs to be cut by IT consultancy Accenture
IT consultancy Accenture is to cut 19,000 jobs worldwide, in an effort to save £1.2bn.
Job losses will impact 2.5% of its 738,000-strong global workforce, with redundancies being made largely in its human resources, IT, finance and marketing departments over the next 18 months.
UK staff will be affected but Accenture declined to say how many staff will be cut. It employs around 11,000 workers in the UK across its Birmingham, Manchester, Leeds, London, Newcastle, Edinburgh and Glasgow offices.
Accenture’s move comes as it lowered its annual forecasts, revealing it expects its revenue growth to be between 8% and 10%. The firm hopes to save around £1.2bn through closing global offices.
The announcement follows on from a raft of technology job losses, after Amazon, Meta, and Just Eat reveal plans to lay off part of their workforce.
An Accenture spokesperson said: “While we continue to hire, especially to support our strategic growth priorities, during the second quarter of fiscal 2023, we initiated actions to streamline our operations and transform our non-billable corporate functions to reduce costs.
“Over the next 18 months, these actions are expected to result in the departure of approximately 19,000 people (or 2.5% of our current workforce).”