IT companies and consultancy agency Accenture mentioned it will lay off 19,000 staffers, or 2.5% of its workforce,  over the subsequent 18 months to scale back prices amid unsure macroeconomic situations.

“Whereas we proceed to rent, particularly to help our strategic development priorities, through the second quarter of fiscal 2023, we initiated actions to streamline our operations and remodel our non-billable company features to scale back prices,” the corporate mentioned in an Securities & Trade Fee (SEC) submitting on Thursday.

“Over the subsequent 18 months, these actions are anticipated to outcome within the departure of roughly 19,000 individuals (or 2.5% of our present workforce), and we anticipate over half of those departures will consist of individuals in our non-billable company features,” the corporate added.

The job cuts mirror stabilizing demand, following explosive post-pandemic development, and prudent price administration, based on Ignacio Rasero, vice chairman for Moody’s Traders Service.

As well as, the corporate has revised its fiscal 12 months 2023 income development.

“Accenture expects revenues for the third quarter of fiscal 2023 to be within the vary of $16.1 billion to $16.7 billion, a rise of three% to 7% in native foreign money, reflecting the corporate’s assumption of an roughly destructive 3.5% foreign-exchange influence in contrast with the third quarter of fiscal 2022,” the corporate mentioned in an announcement.