Accenture Layoffs: In the last three months, Accenture has laid off over 11,000 employees worldwide and threatened to fire more if they are unable to receive the necessary training for the era of artificial intelligence.

The IT consulting firm announced a $865 million reorganization plan and a forecast for the coming year that takes into account the US federal government’s budget cuts as well as the ongoing weak corporate demand for advisory work. According to the Accenture Chief Executive Julie Sweet, “We are exiting on a compressed timeline, people where reskilling, based on our experience, is not a viable path for the skills we need.”

Company Restructuring:

After starting a wave of layoffs that would continue until the end of November, the firm reported that it employed 779,000 individuals at the end of August, down from 791,000 three months earlier. It stated that severance payments and other expenses totaled $615 million in the most recent quarter and would be $250 million more in the current three-month period, although it did not specify the number of positions that had been directly lost as a result of the restructuring.

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Accenture Layoffs & Profit Margins:

A goal that some analysts had feared might have to be abandoned, given the challenging industry conditions, Accenture was able to announce that it would continue to grow operating profit margins at its historic yearly rate of at least 10 basis points in the upcoming fiscal year, thanks to the reduction. For most of the last two years, businesses have been hesitant to hire consultants like Accenture for shorter-term projects, even while there is still a high demand for large-scale digital transformation work.

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