Accenture to lay off 19,000 people, 40% of its 7.38 lakh employees are in India

 Accenture to lay off 19,000 people, 40% of its 7.38 lakh employees are in India :

 

Accenture, the multinational consulting firm, has announced that it will be laying off 19,000 employees worldwide. This represents approximately 5% of the company's total workforce. The decision comes as a surprise to many, especially given the current economic climate, which has been challenging for businesses around the globe.

Of the 19,000 employees being let go, approximately 40% of them are based in India. This is a significant number, as India has been a key location for Accenture in recent years. The company has been investing heavily in the country, building new offices and hiring thousands of new employees.

The decision to lay off such a large number of employees is likely due to a number of factors. First, the COVID-19 pandemic has had a significant impact on the global economy, and many businesses have been forced to make difficult decisions in order to stay afloat. Second, the consulting industry is facing increased competition, as more firms are entering the market and offering similar services to clients. Finally, Accenture may be looking to streamline its operations and cut costs in order to remain competitive in the long term.

While the news of the layoffs is certainly troubling for those affected, Accenture has stated that it will be providing severance packages and other support to help affected employees transition to new jobs. The company has also said that it will be continuing to invest in India, despite the job cuts.

Overall, the announcement of the layoffs at Accenture is a stark reminder of the challenges facing businesses in the current economic climate. While it is always difficult to see people losing their jobs, it is important to remember that companies must make tough decisions in order to remain viable and competitive in the long term. It is our hope that the affected employees will be able to find new jobs quickly and that Accenture will continue to be a strong player in the consulting industry for years to come.
The layoffs at Accenture have sparked concern and outrage from many, particularly in India where a large number of employees are based. The news has prompted discussions about the role of multinationals in India's economy and the need for greater job security for workers.

Critics have argued that the layoffs are particularly unfair given the significant tax breaks and other incentives that Accenture has received from the Indian government. They have also noted that the company's profits have remained strong, even during the pandemic, raising questions about the need for such drastic cost-cutting measures.

Despite these criticisms, it is important to note that layoffs are a common practice in the consulting industry, and many other companies have also been forced to cut jobs in order to stay afloat. In fact, Accenture is not the only consulting firm to announce layoffs in recent months. Deloitte, for example, recently announced that it will be laying off 5% of its workforce, while KPMG and PwC have also reportedly cut jobs in response to the pandemic.

The consulting industry is a competitive and rapidly-changing field, and companies must be able to adapt quickly in order to remain viable. While layoffs are always difficult, they may be necessary in order to keep companies afloat during difficult times. That said, it is important for companies to provide support and resources to affected employees in order to help them transition to new jobs.