By Team Latestly

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New Delhi, September 28: Accenture has reportedly laid off over 11,000 jobs globally in the last three months, and also has indicated that additional layoffs may be coming. CEO Julie Sweet stated that the company is moving on a tight timeline for reskilling employees. The development indicates Accenture’s plans to realign its workforce in response to changing business needs and the growing impact of artificial intelligence (AI) on the industry. The IT consulting firm outlined a USD 865 million restructuring plan, citing weak corporate demand for consulting services and reduced US federal expenditures. The layoffs are reportedly part of a broader restructuring initiative to realign staff to meet the changing requirements of its clients. As per a report of Financial Express, Accenture has cut over 11,000 jobs worldwide in the last three months. The company has also indicated that additional layoffs could occur. These further reductions may affect employees who are unable to be reskilled to adapt to the growing role of AI in the workplace. OpenAI CEO Sam Altman Predicts AI Could Surpass Human Intelligence by 2030, Replace 40% of Jobs Soon. At the end of August, Accenture’s workforce stood at 7,79,000, down from 7,91,000 three months prior. The company did not disclose the exact number of roles affected by the restructuring. However, severance and related expenses reached USD 615 million in the previous quarter, with another USD 250 million is anticipated in the current quarter. CEO Julie Sweet reportedly said on a conference call, “We are exiting on a compressed timeline people where reskilling, based on our experience, is not a viable path for the skills we need.” TCS Hiring: Tata Consultancy Services To Proceed With Onboarding of Around 650 Lateral Hires After Three-Month Delay, Says Report. Accenture has reportedly stated that, despite the recent job cuts, it plans to continue expanding operating profit margins at a pace of at least 10 basis points annually in the next fiscal year. The company reportedly posted revenues of USD 69.7 billion in the year to August, up 7%, while net income rose 6% to USD 7.83 billion.