New Delhi: Global IT services firm Accenture, which has a large presence in India, on Thursday announced to lay off nearly 19,000 employees amid the challenging global macro-economic conditions and slow revenue growth.
Delivering its quarterly results for the second quarter of fiscal 2023, the company also reduced its annual revenue growth and profit forecasts.
“We are also taking steps to lower our costs in fiscal year 2024 and beyond while continuing to invest in our business and our people to capture the significant growth opportunities ahead,” Julie Sweet, Chair and CEO, Accenture, said in a statement.
The company said its revenues were $15.8 billion, an increase of 5 percent in US dollars. The new bookings were at $22.1 billion, a 13 percent increase.
During the second quarter of fiscal 2023, Accenture initiated actions to streamline operations, transform non-billable corporate functions and consolidate office space to reduce costs.
The company recorded $244 million in business optimization costs during the second quarter and expects to record total costs of approximately $1.5 billion through fiscal 2024.
“Accenture estimates $1.2 billion for severance and $300 million for consolidation of office space, with approximately $800 million expected in fiscal 2023 and $700 million in fiscal 2024,” said the company.
PARIS — France is bracing for fresh chaos Tuesday with a day of protests planned against Emmanuel Macron’s detested pensions reform, and trade unions calling for a general strike.
Protests last Thursday descended into turmoil with clashes between police and protesters, and scenes of violence across the country. In the wake of the unrest, which resulted in more than 450 arrests, the French president was forced to cancel a state visit by King Charles III amid security concerns.
Public transport, universities, schools and public services are expected to be disrupted again Tuesday. The impact of the industrial action is being felt across all sectors and areas of public life. A rolling strike of waste collectors in Paris has meant that trash is still piled high in parts of the French capital, and a strike at refineries has led to fuel shortages at some petrol pumps.
Despite widespread unrest, the French president pledged last week that he would not backtrack on the pensions reform which raises the age of retirement to 64 from 62, saying it was “necessary” for the country to balance the books of its generous pensions scheme.
The French government sparked outrage when it invoked article 49.3 of the French constitution to pass its pensions reform, in a controversial move that bypassed a vote in parliament it was expected to lose. The government narrowly survived two motions of no confidence in the National Assembly after the controversial move.
Tuesday’s protest could be an indicator of whether Macron’s inflexibility whips up more discontent on the street or whether the protest movement is starting to subside. French police have been accused of using heavy-handed tactics and it is likely that students and pupils will join protests in greater numbers. On Saturday, a man was left in a critical condition after clashes with police at a French water reservoir project.
Stalemate over pensions reform
Ahead of the protests on Tuesday, Prime Minister Elisabeth Borne called for talks with trade unions and announced she would no longer use article 49.3 except when it comes to budgetary measures.
“Obviously there are tensions over the reform, we need to listen,” she told AFP on Sunday. “[We need] to calm the country and give the French some answers promptly.”
A demonstration of Totalenergies striking employees outside the Gronfreville-l’Orcher refinery | Lou Benoist/AFP via Getty Images
However, talks between the government and trade unions over the pensions reforms are at a standstill. Macron has said he is open to discussing a range of issues including working conditions, pay and work-related strain, but not the pensions reform. Trade unions say they would agree to talks only if the government agreed to re-examine the legal age of retirement.
With no clear way out and in the wake of a string of violent incidents over the last weeks, there are fears within the trade unions that France may be facing a socio-political crisis similar to the Yellow Jackets movement that rocked the country in 2018-2019.
Trade union leader Laurent Berger warned Monday that France was in “a total state of tension.”
“There is a common will [with the government] to find an exit for this protest movement and not descend into a madness that might take hold of the country, with violence and resentment,” he warned in an interview with French channel France 2.
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( With inputs from : www.politico.eu )
