Accenture To Lay Off 19,000

  • Accenture, an Irish-American IT firm, has announced a 19% reduction in its workforce.
  • This comes amid a deteriorating global economic outlook and a hiring binge in the IT sector. The company also expects a significant drop in annual sales due to predictions that major corporations will cut their IT budgets as a result of the financial crisis.
  • The company now expects yearly sales growth of 8% to 10%, down from the previously expected range of 8% to 11%.
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