IT firm Accenture cuts over 11,000 jobs in three months; Warns of more layoffs amid AI push
New Delhi: Global IT consulting firm Accenture has laid off more than 11,000 employees over the past three months and has warned of further job cuts, citing the accelerating impact of artificial intelligence (AI) on its operations.
The Dublin-based firm unveiled details of an $865 million (around Rs 7,669 crore) restructuring programme, warning analysts that if staff cannot be retrained fast enough, further reductions will be inevitable, as reported by India Today on Sunday.
The company’s leadership, led by chief executive Julie Sweet, has reportedly made it clear that reskilling remains the preferred option, but not all employees will make the cut.
“We are moving on a compressed timeline,” Sweet told investors on a call. “Where reskilling simply isn’t a viable path, we are making the difficult choice to exit people," she said, as per the reports.
By the end of August, Accenture’s global workforce had fallen to 7,79,000, down from 7,91,000 just three months earlier. It was reported that severance and related expenses accounted for $615 million in the last quarter, with an additional $250 million anticipated in the current quarter.
Despite the cuts, Accenture maintained that it would continue to expand operating profit margins at its historic annual rate of at least 10 basis points in the next fiscal year.
While trimming its human workforce, Accenture is simultaneously ramping up investment in generative AI. In the recently closed financial year, AI-related projects accounted for $5.1 billion in new bookings, a significant increase from $3 billion the previous year.
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345 Indian fishermen stranded in Iran return home via Armenia
New Delhi (PTI): A group of 345 Indian fishermen, who were stranded in Iran amid escalating regional tensions, returned to India via Armenia on Saturday, officials said.
External Affairs Minister S Jaishankar thanked his Armenian counterpart Ararat Mirzoyan for assistance in return of the Indian nationals.
The Indian nationals arrived in Chennai this evening, the officials cited above said.
The circumstances that led to them being stranded in Iran were not immediately known.
"Thank FM @AraratMirzoyan and the Government of Armenia for facilitating the evacuation of Indian fishermen today from Iran, through Armenia to India," Jaishankar said on social media.
Over 1,500 Indian nationals have left Iran through land border crossings in Armenia and Azerbaijan since the start of the West Asia conflict over a month ago.
"A group of Indian fishermen, stranded in Iran, are returning home via Armenia today; their flight is expected to reach India this evening," a government statement said.
It said the Ministry of External Affairs continues to closely monitor the evolving situation in the West Asian region, with the safety, security and welfare of the Indian community being accorded the highest priority.
It also made a mention of five Indians being injured in Abu Dhabi on Friday.
According to Abu Dhabi authorities, the Indian nationals were among the 12 people injured by debris from an intercepted missile.
"In an attack in Abu Dhabi, five Indian nationals were injured; four have been discharged, one remains under treatment," the Indian government's statement said.
It said the Indian mission in Abu Dhabi is extending "full" assistance and coordinating with local authorities, adding that their flight is expected to reach India this evening.
