Accenture to Slash Jobs Amid Downturn

Accenture Ltd., the world’s largest consulting company, said it will slash about 1,000 jobs, or slightly more than 1% of its work force, as the consulting industry faces slumping demand for services amid the lingering economic downturn.

Bermuda-registered Accenture is one of several management and technology services companies that have been under pressure because large corporations have reduced spending on information technology projects.

Accenture, part of an industry that usually has high turnover, currently has one of its lowest rates of attrition, or the number of staff leaving voluntarily, at 7%, a spokeswoman said.

Accenture, which has a work force of 75,000 employees worldwide, will be cutting consulting positions over the next few months, mainly in management, the spokeswoman said.

Accenture fell 33 cents to $17.57 on the NYSE.