ACN has 500,000+ employees worldwide, not just in US. About 20% work in US so 10% of US employees would be 10,000 not 50,000. I work here - there have been cuts but not 10,000. Just a handful and attributed to restructuring; thinking the bloodbath will start next fiscal year (in September).
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Accentur always pulls this off - go and try to find any record of any prior layoffs. Smooth...
I am still puzzled why nobody covered it at all - honestly, I think that folks are so saturated with non-stop layoff news that nobody even cares anymore
Quiet period pre earnings - hence no statement.
Could be because headcount may not go down dramatically, i.e. recent college graduates, India, etc. to keep/hire ‘bodies’ and lower costs/up profits.
10% US Based is correct
It was a big hit here in the US... I am sure other geos will follow, the dip is global and I am sure more redundancies will follow. I was in Gallia up until last year, moved to US West - I am still in contact with from my peers back home - it's ugly. Keep in mind, it's more difficult to let people go in Europe, it takes longer to prepare and the separation process is longer.
I survived for now but if the pipeline stays dry things will get really ugly after Septembrer.
US went first - always has to be #1
- but ... rest of world will not be far behind
10% of US employees (~50k or more employees in the US as published by Wikipedia).
I heard roughly 10% of the US workforce, mostly in tech. They targeted billable services, which when not billable are considered cost centers.
@1kpt deloitte went public with the number - 5K... i think we are a bit bigger (but not much bigger) than them - i'd expect our cut to be in a 7k to 9k range. then you have the question of geographies, e.g., how many out of 7k were from the usa vs the rest of the world etc.
hey @1kpt where did you get that 50K number?
Massive cuts coming
You'd think that cutting 50,000 people from a company might make some kind of press impact, but what do I know?
Only twitter so far
a few posts on twitter, very subtle. bummer. Deloitte Consulting had 5% cuts last week and there were multiple reports on this...
https://goingconcern.com/layoff-watch-20-what-in-the-world-is-happening-at-deloitte-canada/