Accenture Shares Jump After Plan to Slash 19,000 Jobs (3)

Accenture Plc surged after saying it will cut 19,000 jobs — about 2.5% of its workforce — over the next 18 months, one of the largest rounds of dismissals in a consultancy sector battling strong economic headwinds.

The shares climbed as much as 8.4% in New York following the announcement, the biggest intraday gain since December 2021. The company said it expects to incur $1.2 billion in employee severance and other personnel costs, and will spend an extra $300 million on office space consolidation. The job cuts come after Accenture hired 39,000 people over the past year, according to ...