Unemployment in India gets worse; next in line to layoff employees happens to be Accenture

Unemployment rate in India

Several employees have suddenly fallen out of jobs due to the pandemic, and the situation seems to only be getting worse. Next in line to have laid employees off in Bengaluru happens to be Accenture. Many Accenture employees all over India will soon be shown the way to the exit gate, post the appraisal cycle, which is currently underway.

Accenture has about two lakh of its global workforce (of around five lakh) in India itself.

According to the Australian Financial Review’s (AFR) report on Tuesday, Accenture CEO Julie Sweet said, “In a normal year we transition out about 5% and we hire to replace them, because we are in a demand scenario. Right now, we’re not in a demand scenario, so if we manage out the same percentage of people and don’t replace them, it allows us to continue to invest and preserve some people who have lower chargeability for when the market comes back,” she said in an internal staff meeting which was streamed online somewhere around Mid-August.

Simply put, Accenture is essentially aiming to reduce 5% of its total workforce, and that raises grave concerns among those who are most likely to lose their jobs during a pandemic.

If we go by mere percentages, the 5%, when implicated in India, will affect about 10,000 employees.

Losing jobs during a pandemic is worrisome as there are various companies laying employees off. Under such circumstances, the likelihood of finding another job becomes rare and hard to come by. Will the markets improve in the coming months and will those unemployed finally find jobs to make ends meet is something that yet needs to be seen.

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