The Irish-American professional services company said in a Thursday filing that it would spend $US1.2 billion ($1.8 billion) in severance to cut 2.5 per cent of its workforce over the next 18 months, and another $US300 million to consolidate its office space.
More than half of the axed roles would be among back-office staff, the company said.
Accenture, which has 738,000 employees globally including in Australia and New Zealand, said in its latest quarterly report to the Securities and Exchange Commission that it continues to hire, but had “initiated actions to streamline operations and transform our non-billable corporate functions to reduce costs”.
It is not yet known how or if its Australian operations will be affected by the cuts.
The $US167 billion company downgraded its revenue growth outlook for the 2023 fiscal year to between 8 per cent and 10 per cent, from its previous estimate of between 8 per cent and 11 per cent.
Shares in Accenture rose 3.9 per cent to hit $US263 ($393) apiece in early trade after its announcement.
The New York-listed stock is down by more than 5 per cent over the past 12 months.
Accenture’s rivals are also trying to trim their costs.
It not just consulting feeling the pinch.
Taken together, the cuts will reduce Meta headcount by about 25 per cent.
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