Accenture Laying Off About 336 Senior Executives

The IT Market is picking up and some companies have shown profits in their last quarter which was sounding good till now, the word "Reccession" is slowly moving of the minds and now the layoff bells rings again. This time it is by accenture which targets Senior executives not the freshers or medium level engineers. Well Accenture has got around 4,800 senior executives , it says 336 employees may be affected.

The company expects the space reductions to be completed by the end of the current fiscal year, and the workforce actions to be substantially completed during the first quarter of fiscal year 2010.

Accenture says these actions will result in a pre-tax restructuring charge of approximately $247 million in the fourth quarter of fiscal 2009, ending 31 August 2009. Accenture expects net revenues for the 4th quarter of fiscal year 2009 to be in the range of $5.0 billion to $5.2 billion.
According to William D. Green, chairman and CEO, Accenture, “The realignment of our senior-executive workforce will help ensure that Accenture has the right people, skills and capabilities, at the right levels and in the right places. The affected executives are highly skilled and valued professionals, and we will be working with them, as appropriate, to help them find new opportunities outside of Accenture that take advantage of their experience and expertise.”

William D. Green further added, “In addition to continuing to manage Accenture with great discipline in a challenging environment, we’re taking proactive steps to ensure that we have the right cost structure to support our business going forward and that our organisation is properly aligned to most effectively capture future growth opportunities. At the same time, we’re making strategic investments in high-value growth areas that will enable us to extend our leadership in the market.”

While looking at the layoffs by the companies , Govt has to come up with strict laws for stopping these layoffs , as i say loss to company is brought by the people sitting at the higher level of the companies who are responsible to take decisions for the growth of the companies and they are being paid not only to get the profits but also to analyse future possible disasters. If the company comes into loss what does a fresher or a simple employee has got to do with that, the loss of profit for the company is generated by the decision making of the management. Now company should analyse who are exactly responsible for the loss and penalise them.This is very rude towards the employees who doesn't even know why they are being layedoff, the only reason they were given is company is in loss.