Cost Optimization in Focus, Moderation in Growth Expected: What Accenture’s Results Mean for Indian IT Companies | In the News

Indian IT companies are likely to focus on cost optimization going forward, analysts said, after Accenture reported its numbers for the quarter that ended February 28. The company also announced that it is going to lay off 19,000 employees over the next 18 months, including over 800 of its 10,000-plus leaders. CEO Julie Sweet said the company is going after structural costs to ensure that it is in a better position.

Chirajeet Sengupta, Partner at Everest Group, said that the sentiment going forward is that things are not falling off a cliff, and even something like the impact of the collapse of SVB and the acquisition of Credit Suisse by UBS is being managed better by regulators currently than how things were in 2008, during the global financial crisis.

Read more in Money Control.

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