Accenture to layoff 19000 employees - over next 18 months

https://m-economictimes-com.cdn.ampproject.org/v/s/m.economictimes.com/tech/technology/accenture-to-cut-19000-jobs-trims-forecasts/amp_articleshow/98943110.cms?amp_js_v=0.1#webview=1&cap=swipe

Roughly 2.5% of the workforce. Are there any details on teams and geographies impacted?

https://www.moneycontrol.com/news/business/cognizant-says-revenue-will-decline-in-2023-to-lay-off-3500-employees-10523261.html/amp?utm_campaign=fullarticle&utm_medium=referral&utm_source=inshorts

Heard this morning from a friend who works at Accenture India, layoffs have begin once more. He said he is not sure if this is part of the 19000 that was announced during the earnings call.

Current recession giving ‘08 vibes to consulting companies in India: - Accenture Strategy considering layoffs - Deloitte (Consulting) considering layoffs - Mckinsey - already have done non-consulting layoffs - MBB - expected to push out joining dates for new hires by at least ~6 months (most likely new joiners who were expecting to join in July-Aug 23’ to join only starting Jan 24’) Slow pace of new projects, ramp down of existing big clients, massively over hiring in 2022 (key reason) has led to most people being on the bench. Wouldn’t be surprised if the ‘Up or Out’ model comes into action more aggressively for the upcoming appraisal review cycle(s). Brace for impact! (all unconfirmed, heard through ‘grapevine’)

I have been hearing from multiple friends across organizations in India. Lay offs are not in news but happening silently across boards. Companies are on cost cutting mode. Interesting year ahead

Is that true? Just saw one random article