On Thursday, Accenture Plc, an IT services firm, announced it was cutting about 19,000 jobs and decreasing its annual revenue and profit forecasts amid widespread layoffs at leading tech companies worldwide.
According to the Accenture company, more than half of the layoffs will affect staff at non-billable corporate functions. As a result, its shares rose more than 4% before the market opened
According to Refinitiv data, the company expects current-quarter revenue between $16.1 billion and $16.7 billion. On average, analysts were forecasting revenue of $16.64 billion for this quarter.
Days earlier, Amazon revealed it will be letting go of 9,000 more employees within the next few weeks, mostly across AWS, advertising, and Twitch.
As of April 9th, nearly 18,000 had already been let go from their global e-commerce company.
Facebook-parent Meta Platforms announced in October that it was eliminating 10,000 jobs this year, following a previous mass layoff that took out over 11,000 staffers