Accenture lays off 11,000 employees in AI-driven restructuring

Between May and August this year, the company’s headcount fell from around 791,000 to 779,000, reported Tech.co.

The current round of layoffs is expected to continue till November.

The company is reportedly planning to train the remaining staff on various AI platforms.

Speaking on the layoffs, company's Chief Executive Julie Sweet was quoted as saying by Tech.co: "We are exiting on a compressed timeline, people where reskilling, based on our experience, is not a viable path for the skills we need.”

According to Sweet: “Every new wave of technology has a time where you have to train and retool. Accenture’s core competency is to do that at scale.”

According to reports, the IT giant has generated $2.6 billion in revenue for its AI consulting work.