The economy is set to receive another blow owing to the COVID-19 crisis, as Global professional services company Accenture is to cut about 5% of its workforce. The company has about 2 lakh employees from India making the country its largest employee base.
“Every year, as part of our performance process, we have conversations with our people about how they are performing, areas for improvement, their potential to progress, and whether they are a long term fit for Accenture,” the company told IANS.
Accenture has 5 lakh employees worldwide but the 5% workforce would include the low-performing workforce and as the company struggles during the Covid-19 pandemic.
CEO Julie Sweet informed that earlier in February they were growing at 8% whereas, now the growth has collapsed to 1.3 per cent in the wake of the pandemic. The company currently has over 509,000 people serving clients in more than 120 countries.
“Right now, we’re not in a demand scenario, so if we manage out the same percentage of people and don’t replace them, it allows us to continue to invest and preserve some people who have lower chargeability for when the market comes back,” she added