{"id":1243243,"date":"2023-02-25T10:29:36","date_gmt":"2023-02-25T04:59:36","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1243243"},"modified":"2023-02-25T10:30:07","modified_gmt":"2023-02-25T05:00:07","slug":"capgemini-will-hire-fewer-employees-in-2023-despite-16-6-more-revenues-in-2022-find-out-why","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/capgemini-will-hire-fewer-employees-in-2023-despite-16-6-more-revenues-in-2022-find-out-why\/","title":{"rendered":"Capgemini Will Hire Fewer Employees In 2023 Despite 16.6% More Revenues In 2022: Find Out Why?"},"content":{"rendered":"\n<p>French IT consulting group Capgemini has forecast weaker revenue growth and said it would slow down hiring in 2023 amid a tech sector downturn.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/02\/Untitled-design-14-1-1280x720-1-1024x576.jpeg\" alt=\"Capgemini Will Hire Fewer Employees In 2023 Despite 16.6% More Revenues In 2022: Find Out Why?\" class=\"wp-image-1243255\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/02\/Untitled-design-14-1-1280x720-1-1024x576.jpeg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/02\/Untitled-design-14-1-1280x720-1-300x169.jpeg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/02\/Untitled-design-14-1-1280x720-1-768x432.jpeg 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/02\/Untitled-design-14-1-1280x720-1.jpeg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The company offers consulting, digital, technical and engineering services.<\/p>\n\n\n\n<p><strong>Poor macroeconomic situation<\/strong><\/p>\n\n\n\n<p>Slowing growth, soaring inflation and a looming recession has been forcing many tech companies including U.S. giants Alphabet, Microsoft and Amazon to make massive cuts in jobs.<\/p>\n\n\n\n<p>India is undergoing a similar situation as well, with IT companies here exercising caution about hiring and onboarding already hired talent.<\/p>\n\n\n\n<p><strong>Meagre percentage of staff growth<\/strong><\/p>\n\n\n\n<p>Capgemini grew its workforce by 11% in 2022, reaching a headcount of 359,600 at the end of December.<\/p>\n\n\n\n<p>However, the percentage of growth in staff was a mere 0.3% from the end of September.<\/p>\n\n\n\n<p>More than half the headcount works at offshore locations, and most of that is in India.<\/p>\n\n\n\n<p><strong>Boss explains factors behind slowed hiring<\/strong><\/p>\n\n\n\n<p>Chief Executive Aiman Ezzat said the group had slowed hiring in response to sluggish demand for cloud, data and artificial intelligence services.<\/p>\n\n\n\n<p>He said, &#8220;We are optimising our operation, taking advantage of the lower attrition and also factoring the fact that we have lower growth in front of us.\u201d<\/p>\n\n\n\n<p><strong>Utilisation of existing talent<\/strong><\/p>\n\n\n\n<p>He did not reveal anything about the firm&#8217;s hiring plans this year, but <a href=\"https:\/\/m.timesofindia.com\/city\/bengaluru\/capgemini-expects-muted-2023\/amp_articleshow\/98136974.cms\">said <\/a>focus is on utilisation.&nbsp;<\/p>\n\n\n\n<p>\u201cWe are expecting lower growth in 2023. With that we are trying to optimise utilisation,\u201d he said.<\/p>\n\n\n\n<p>&#8220;(I&#8217;m) not going to do a prediction regarding headcount growth, but to see our growth in 2023, we&#8217;ll have to increase headcount&#8221;, he went further.<\/p>\n\n\n\n<p><strong>2023 Revenue growth<\/strong><\/p>\n\n\n\n<p>The firm expects revenue growth in 2023 to fall in the range of between 4% and 7% in constant currency, compared with 16.6% last year.<\/p>\n\n\n\n<p>This is above the 2022 target range of 14% to 15%, which was revised upwards on the publication of the half-year results.<\/p>\n\n\n\n<p><strong>2023 Operating margin<\/strong><\/p>\n\n\n\n<p>Its annual revenue reached 22 billion euros ($23.48 billion) on bookings of 23.7 billion euros, an increase of 16.8% at constant exchange rates.<\/p>\n\n\n\n<p>Furthermore, it has <a href=\"https:\/\/www.reuters.com\/markets\/europe\/frances-capgemini-sees-weaker-revenue-growth-2023-2023-02-21\/?campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts\">forecast <\/a>2023 operating margin in a range of 13.0% to 13.2%, and organic free cash flow of around 1.8 billion euros.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>French IT consulting group Capgemini has forecast weaker revenue growth and said it would slow down hiring in 2023 amid a tech sector downturn. The company offers consulting, digital, technical and engineering services. Poor macroeconomic situation Slowing growth, soaring inflation and a looming recession has been forcing many tech companies including U.S. giants Alphabet, Microsoft [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":1243255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[960],"class_list":["post-1243243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-capgemini"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Capgemini Will Hire Fewer Employees In 2023 Despite 16.6% More Revenues In 2022: Find Out Why? - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/capgemini-will-hire-fewer-employees-in-2023-despite-16-6-more-revenues-in-2022-find-out-why\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capgemini Will Hire Fewer Employees In 2023 Despite 16.6% More Revenues In 2022: Find Out Why? - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"French IT consulting group Capgemini has forecast weaker revenue growth and said it would slow down hiring in 2023 amid a tech sector downturn. 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