"Accenture booked about $615 million in restructuring charges in the latest quarter, mostly tied to severance, said Angie Park, the chief financial officer, on the call. After an additional charge this quarter, the figure is expected to climb to about $865 million. Alongside what the company calls "rapid talent rotation," Park said Accenture will also divest two acquisitions. "These actions will result in cost savings which will be reinvested in our people and our business," Park said."
"Despite the cuts, Sweet said Accenture's head count is expected to increase across all markets - including the US and Europe - in the coming financial year. The firm employed more than 779,000 people at the end of August, Sweet said, down from about 791,000 three months earlier. Accenture has been building up its AI bench, nearly doubling its ranks of AI and data specialists to 77,000 since fiscal 2023, Sweet said."
Accenture is remaking its workforce for the AI era through targeted exits, reskilling initiatives and new hiring. The company is exiting employees it cannot retrain on a compressed timeline when reskilling is not a viable path for required skills. Accenture expects head count to increase across markets including the US and Europe in the next fiscal year, despite recent reductions. The firm employed more than 779,000 people at the end of August, down from about 791,000 three months earlier. Restructuring charges totaled about $615 million this quarter and are expected to reach about $865 million. The company nearly doubled AI and data specialists to 77,000 since fiscal 2023 and trained over 550,000 employees in generative AI fundamentals. Cost savings from rapid talent rotation and divestitures will be reinvested into people and the business.
Read at Business Insider
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