Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Professional services company Accenture has announced a global restructuring plan which will cut 19,000 jobs from its workforce. The company has stated that most jobs cuts will focus on back-office roles. As Accenture works with tech companies, the rapid growth of these companies drove a required increase of its headcount, which grew by 50% over the pandemic. The company has cited lower than expected profit and revenue forecasts as well as reduced demand from tech companies as driving factors for the restructuring. As a result, operations and non-billable corporate functions are being targeted to reduce operating costs. It is expected that most jobs cuts will be in USA and an expected 400 job cuts in Ireland.
Eurofound (2023), Accenture, Internal restructuring in World, factsheet number 108726, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108726.