Job cuts are nothing novel in the world of business. However, when a top global consulting firm decides to cut jobs – thousands of them at that – the world is bound to pay attention. That is the reality of the consulting firm Accenture right now.
In a move that came as a shock to some industry watchers but shocked others not at all given the spate of job cuts in some big-name companies recently, Accenture had announced on Thursday, 23 March, that it would be cutting 19,000 jobs in the next eight months.
That number, considered high compared to other companies that have announced cuts recently, represents about 2.5 per cent of Accenture’s workforce.
The decision to slash its workforce, according to the company, stems from its need to cut costs and streamline its operations.
Employees affected are mostly those in nonbillable corporate roles. What’s more, it doesn’t mean the company has stopped hiring. On the contrary, multiple reports indicate that Accenture will still be hiring to support what it calls “strategic growth priorities.”
The massive job cuts comes at a time when several other companies have taken similar decision Amid the the pall of uncertainty enveloping the business climate.
Well, as the saying goes, life must go on.
