Thousands of Accenture Employees may Lose Job

 Technology Today Bureau

It has been reported that in an internal global staff meeting, Accenture CEO, Julie Sweet said that the technology company needed to terminate about 5% of its employees all over the world. This is despite the fact that the company has frozen fresh appointments during Corona crisis and cutting subtractors, the crisis brought on by Corona was such that the company still needed to downsize its employees strength.

Julie Sweet is reported to have indicated that normally, they terminate about 5% of their employees and recruit another 5% in their place as they have to meet the workload of demand. However, nowadays they don't have a demand workload. Hence, if they terminated these 5% employees and don't replace them, then they'd be able to retain the ones who are critical to the organisation.

By an estimate, if Accenture has about 5 lakh employees all over the world, then 5% of them i.e., approximately 25000 employees stand to lose their job. Out of these, India has the largest number of employees at about 2 lakhs. 5% of them i.e., about 10,000 people stand to lose their job in Accenture India.

Julie Sweet further indicated that the working hours of the employees in proportion to the profit coming from their clients had reduced to more than 90% in a decade. The performance of the employees was a critical factor in deciding about their retention in the company.

It is worth remarking that during lockdown, thousands of employees from topmost IT companies in India have lost their jobs. The lockdown has hit the businesses very hard and especially the IT sector, which almost completely depends upon imports, has been badly hit.