Accenture's trimming 19,000 employees from its monstrous workforce.
👉 Background: Accenture is the Irish-American professional services company headquartered in Dublin. It makes money by hiring out its smart employees to organisations that are planning major system revamps.
👉 What happened: Over the last two years, Accenture has been growing hardcore - it grew its employees by 50%. But now, Accenture's trimming 19,000 employees from its monstrous 738,000-strong workforce.
👉 What else: After this announcement, Accenture’s share price surged more than 18 per cent late last week.
💡 Professional services firms like Accenture ride the waves of the the economy.
💡 These cuts at Accenture are the latest sign that corporate clients are cutting their spending on advisory services:
💡Accenture has tended to do very nicely during past big tech shifts. So they’d be hoping that companies turn to them during the emerging focus on AI.
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