Accenture to promote almost 50,000 after 6 months delay, here are India and other regional numbers

Accenture has announced to promote nearly 50,000 employees globally next month, reports Bloomberg. The decision comes after the company delayed its December promotion cycle due to weak demand for consulting services. According to the report, Accenture has sent an internal memo to its staff, stating that the move is aimed to support employee morale. The company – based in Dublin – employs about 801,000 people worldwide. It will promote around 6% of its workforce in June.As per the Bloomberg report, Accenture will promote around 15,000 employees in India, 11,000 in Europe, the Middle East and Africa, and 10,000 in the Americas. The memo noted that operating margins declined compared to the same quarter last year, and the company is seeing continued uncertainty in the global economy and politics. Some employees in key growth areas will receive pay increases, while decisions on bonuses and performance-based equity will be made in December.While Accenture had expanded hiring during the pandemic, it has since reduced its workforce. The company cut about 19,000 jobs starting in 2023.The company has also faced a slowdown in client spending and increased scrutiny of its contracts with the U.S. government. Under President Donald Trump, federal agencies have been reviewing whether contractors deliver value for money. During the company’s fiscal second-quarter earnings call, Sweet said “As you know, the new administration is focused on running the government more efficiently, which has slowed many procurement actions, negatively impacting our sales and revenue”. She further revealed that the company’s Federal Services business has lost contracts with the US government after recent reviews.Earlier this year, Accenture also dropped its diversity targets after the administration directed companies to stop such practices.