Accenture to Delay Bulk of Promotions by Six Months on Outlook

September 18, 2024 12:06 AM AEST | By EODHD

Google News:

Accenture to Delay Bulk of Promotions by Six Months on Outlook — Image source: Kalkine Media

Recent News

Can Westpac (ASX:WBC) Outperform the ASX300 in 2025?

Oil Volatility Shakes Market But ASX300 Investors Stay Focused

Radiopharm (ASX: RAD) Secures Supply Deal with Cyclotek for Prostate C...

Energy One (ASX:EOL): The Silent Software Powerhouse in the Energy Shi...

(Bloomberg) -- Accenture Plc is planning to push back the bulk of its staff promotions by six months in the latest sign of a prolonged slump that’s hurt the wider consultancy industry. Most Read from Bloomberg Pipeline Fire Near Houston Forces Some Residents to Evacuate London Mayor Plans to Pedestrianize Busy Oxford Street An Artist Reimagines the Spaces of Childhood, With Thorny Results US Driving and Congestion Rates Are Higher Than Ever An Affordable Nomadic Home Design Struggles to Adapt to Urban Life The Dublin-based technology giant told employees in an internal blog post last week that it will announce most promotions in June, rather than in the usual month of December, people familiar with the matter said, asking not to be identified discussing non-public information. The firm had first informed managing directors of the change in the schedule earlier this month, said one of the people. A representative for Accenture, which has about 750,000 workers across 120 countries, said the new timeline aims to give the company “better visibility of our clients’ planning and demand,” without elaborating. The move by the New York-listed company is a further indication of the uncertainty roiling the professional-services industry as clients pull back on spending.

Accenture shares tumbled the most in four years in March after it lowered its outlook, saying revenue for fiscal 2024 is likely to grow as much as 3%, down from an earlier forecast for 5%. Rivals including McKinsey & Co., Ernst & Young and PricewaterhouseCoopers have also been cutting jobs to weather the slowdown, though a surge of late in demand for automation and artificial intelligence-related projects has helped. Like its peers, Accenture went on a hiring spree during the Coronavirus pandemic in response to a surge in demand. More than a year ago, it announced it would cut 19,000 jobs — about 2.5% of its workforce at the time — over the following 18 months. Most Read from Bloomberg Businessweek The Man Who Made Nike Uncool How an Unknown Chinese Phonemaker Took Over Africa To Catch Up in EVs, Detroit Needs to Invite China In Business Schools Are Undergoing Unusual Change Israeli Budget Brawl Shows Gaza War Splintering the Nation ©2024 Bloomberg L.P.

View comments

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.