Accenture is to cut 1500 jobs worldwide, blaming the slowdown in the global economy. The firm, which employs 75,000 staff, is cutting 1000 consultants, mainly in the US, and 500 administrative positions worldwide.
In addition, it is expanding its sabbatical programme to Europe and Asia. Under the scheme, staff can take between six to 12 months off while being paid 20 per cent of salary and benefits.
Accenture's board has also authorised a share buy back initiative to repurchase up to $150m of the firm's stock.
Chairman and chief executive Joe Forehand said: "We are taking these actions after our normal annual budget review and management plan to ensure that our staffing levels are better balanced with client demand.
"In addition, the FlexLeave programme, which we introduced in the US in June and in Canada, Australia and New Zealand in July, was extremely well received by our people. As a result we're going to expand this innovative programme to Europe and Asia. This should give us additional flexibility."
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