On Thursday, Accenture Plc also announced that it would cut about 19,000 jobs and lowered its annual revenue and profit projections.
New Delhi: Big tech companies, in the past few months, have witnessed a massive job cut, a sign that the worsening global economic outlook was sapping corporate spending on IT services. On Thursday, Accenture Plc also announced that it would cut about 19,000 jobs and lowered its annual revenue and profit projections.
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“Streamlining operations expected to result in the departure of approximately 19,000 people over the next 18 months. Expect over half of the departures will consist of people in non-billable corporate functions,” the company said, sending its shares up more than 4% before the bell.
Amid worries that recession-wary enterprises will cut technology budgets, the American technology giant has also trimmed its annual revenue growth and profit forecasts. According to a Reuters report, the company now expects annual revenue growth to be in the range of 8 per cent to 10 per cent in local currency, compared to 8 per cent to 11 per cent expected previously.
Recently, the IT services and consulting firm acquired Bengaluru-based industrial artificial intelligence company Flutura. The deal size was not disclosed.
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“Flutura will strengthen Accenture’s industrial AI services to increase the performance of plants, refineries, and supply chains while also enabling clients to accomplish their net-zero goals faster,” Accenture said in a statement.
“Flutura democratizes AI for engineers. This acquisition will power industrial AI-led transformation for our clients globally and particularly in Australia, South-East Asia, Japan, Africa, India, Latin America and the Middle East,” Senthil Ramani, senior managing director and Accenture Applied Intelligence lead for Growth Markets, said.
