Accenture Office in Gurugram, IndiaAfter denying salary hikes to its India-based employees in 2023, Accenture Plc. has now announced that it shall delay its staff promotions by six months. This decision shall affect all its employees globally.
In its report, Bloomberg mentions that Accenture informed employees through an intenal blog post that most promotions will now be announced in June 2025. This change shall impact the consulting giant's vast workforce of 750,000 employees world-wide.
Earlier this year, Accenture revised its revenue forecast for fiscal 2024, indicating the challenging economic conditions it faces. In the October of 2023, it communicated to its employees in India and Srilanka about no-salary hikes to challenging macroeconomic factors.
“We are permanently changing our primary promotion date from December to June, which is when we have better visibility of our clients’ planning and demand," said the tech giant in its official statement.”
Ink Dive: Decline in Entry-Level Graduates Hiring in FY24
It is being said that Accenture is facing the heat of declining client spends. It's decision to delay promotions and salary hikes are a direct result of that.
