Accenture has laid off more than 11,000 employees in the last three months and warned that staff should expect further layoffs, as part of a massive AI-focused restructuring program. The IT consulting firm revealed the news on Thursday, which is expected to cost around $865 million in severance payments.
Between May and August this year, the company’s headcount fell from around 791,000 to 779,000. The current round of layoffs are expected to last until November, while Accenture plans to train its remaining staff on different AI platforms.
With this news, Accenture becomes the latest company to downsize in favor of automation. Increasingly, businesses are looking to AI as a silver bullet to resolve any economic and workforce woes. However, it’s critical that firms develop a comprehensive strategy before they look to implement the technology.
