ACCENTURE MAKES 'BIG ANNOUNCEMENT' ON SEVERANCE PAYOUT TO EMPLOYEES AMID PANDEMIC - REPORT   

Leading global professional services company, Accenture is offering a seven-month severance payout to employees, who were impacted by its latest layoffs. 

This big severance payout to employees is quite high when considering most companies offer a two-three months’ payout, or one month of salary for every year of service put in. 

According to a Times of India (ToI) report, the package is applicable to employees, who are voluntarily tendering resignations. Meanwhile, the payout includes a three-month salary in lieu of the notice period and an additional four month salary for those who resign voluntarily.

Amid the global crisis, last month there were reports that Accenture was laying off 5 percent of its global workforce. While, India itself has two lakh of its five lakh employees, and 5 percent would mean 10,000 employees. 

Meanwhile, an Accenture spokesperson said, “This year, across all parts of our business and all career levels, we will identify approximately 5 percent of our people as our lowest performers, and these individuals will transition out of Accenture. This is consistent with our actions each year.”

When ToI spoke to a few employees regarding the same they said performance was not the consideration in several cases. Also, Accenture did not respond to questions on this matter. While last month, Accenture said that in India, they are continuing to hire but it did not disclose in which areas the hiring process is taking place. 

However, in Cognizant’s previous round of layoffs, employees were offered severance packages of 12 to 21 weeks’ pay, especially depending on years of experience, and one week’s pay for every year of service, ToI further reported.