IT services firm Accenture fresh off of laying off 19,000 people is reportedly hiring for multiple job roles in India.
Pushing back start date
For some recent hires it is delaying start dates in an attempt to recalibrate its massive workforce for a more cost-conscious environment.
“In some cases, for example for some recent graduates, we are adjusting start dates based on the needs of our clients and business,” Accenture spokeswoman Rachel Frey said.
The firm is offering an additional signing bonus to some people whose start dates have been pushed back, according to a person familiar with the company’s hiring practices.
Still posting job vacancies
Meanwhile, it has posted multiple job vacancies, including services marketing executive partner, media relations – capital markets, analyst relations writer specialist, and more on LinkedIn.
Existing employees are still concerned about the security of their jobs
The human resource team of Accenture still hasn’t revealed any details about the layoffs.
Layoffs to not be immediate
The company had earlier mentioned that it won’t immediately terminate employees and that the layoffs will continue over the next 18 months.
“Over the next 18 months, these actions are expected to result in the departure of approximately 19,000 people (or 2.5 per cent of our current workforce), and we expect over half of these departures will consist of people in our non-billable corporate functions,” Accenture said in the regulatory filing.
“We are also taking steps to lower our costs in fiscal year 2024 and beyond while continuing to invest in our business and our people to capture the significant growth opportunities ahead,” Julie Sweet, Chair and CEO, Accenture, said in a statement.
Delivering its quarterly results for the second quarter of fiscal 2023, the company reduced its annual revenue growth and profit forecasts.
Financials
Its revenues were $15.8 billion, an increase of 5 per cent in US dollars.
The new bookings were at $22.1 billion, a 13 per cent increase.
It recorded $244 million in business optimization costs during the second quarter and expects to record total costs of approximately $1.5 billion through fiscal 2024.
Objectives
While there was a pandemic that led to hiring binges, the top firms now have too many consultants chasing too little work.
During the second quarter of fiscal 2023 the firm initiated actions to streamline operations, transform non-billable corporate functions and consolidate office space to reduce costs.
