Accenture has announced its plan to lay off 19,000 individuals globally, and out of its 7.38 lakh employees, 40% are based in India.

Accenture to lay off 19,000 people, 40% of its 7.38 lakh employees are in India

Accenture, a global professional services company, recently announced its plans to lay off 19,000 employees worldwide, accounting for approximately 5% of its total workforce. This comes as a part of the company's restructuring plans aimed at shifting its focus towards more profitable areas such as cloud, digital transformation, and cybersecurity.

Of these layoffs, approximately 40% of the affected employees are based in India, where the company has a significant presence. The move has caused significant concern and uncertainty among employees and the Indian IT industry as a whole.

However, the layoffs have raised questions about the impact of outsourcing and the role of multinational companies in the Indian economy. India has been a hub for IT outsourcing, with many multinational companies setting up operations in the country to take advantage of the low labor costs and the availability of skilled workers.

The IT industry in India has been a significant contributor to the country's economy, accounting for approximately 8% of its GDP and employing over four million people. The industry has also been a source of pride for the country, with India being recognized as a global leader in software development and IT services.

The layoffs by Accenture have sparked a debate about the future of the IT industry in India and the role of multinational companies in the country. Many have criticized the move, arguing that it is a short-sighted decision that ignores the long-term benefits of investing in India's skilled workforce.

Others have pointed out that the layoffs are part of a larger trend towards automation and digital transformation, which is likely to have a significant impact on the IT industry in India and around the world. As companies increasingly shift towards automated systems, the demand for low-skilled IT workers is likely to decrease, putting pressure on countries such as India to develop new skills and technologies to remain competitive.

In conclusion, the layoffs by Accenture have raised important questions about the role of multinational companies in the Indian economy and the future of the IT industry in the country. While the move is undoubtedly a setback for affected employees, it also highlights the need for India to invest in new technologies and skills to remain competitive in a rapidly changing global economy.

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