Accenture offers 7-months severance pay out to employees
The global professional services company, Accenture is undergoing massive restructuring and layoffs to battle the losses encountered amid Covid-19 pandemic. The company is offering seven-month severance payout to the employees that have lost the job according to media reports.
Accenture announced laying off 5% of its global workforce in last month. The company has over 5 lakh employees across the globe. India is an important delivery centre for Accenture. The company has almost 2 lakh employees in India. 5% layoffs mean 10,000 Indian workers affected by the announcement.
The official statement by Accenture said, "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."
A number of tech companies are laying off employees amid the Covid-19 pandemic. These companies are cutting down on their spending in areas where they have less business growth. The same companies have also stepped up hiring in areas that have high growth such as digital technologies.
Accenture has seen a dip in the revenue following Covid-19 pandemic. The revenue grew by just 1.3% for Accenture. The company is still clocking 70% of its revenue from new-age services such as digital transformation.