Accenture's Cost-Cutting Measures: Company Reveals Plans for Hiring and Layoffs! Details

The coronavirus pandemic has forced all businesses to devise new strategies to cope with the losses incurred during this period. The Dublin based company too has decided to implement a slew of cost-cutting measures in view of the pandemic. 

As per media reports, Accenture stated that the company would restrain from hiring but will not delay the on-boarding of new employees. The company announced that all the job offers made prior to the pandemic will be honored by the company. However, recently the firm decided to halt the joining of new recruits for some time. 

According to Livemint's report, Julie Sweet, the Chief Executive Officer of the company announced that the new hiring will focus on replacing sub-contractors. The company hires almost 2,500 people on a monthly basis on an average, as per previous year’s data. 

“Instead of hiring new employees and letting new recruits start their positions, Accenture has decided to continue to retrain the current employees in areas like technology and cloud services. Since the crisis started in March, Accenture has retrained about 37,000 of its existing employees until now, in those areas,” Trak.in cited in its report. 

CEO of the company, Julie Sweet also informed that the company is going to be carrying cost structural cuts which will boost its performance. However, it will adopt its annual performance process once it slips back to normalcy. 

Accenture has also undertaken relocation of employees in strategy and consulting divisions in order help public- sector clients improve their operations.