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Panic Amongst H-1B Holders as Accenture Announces Job Cuts

Accenture announced a cutting down 19,000 jobs worldwide over next 18 months The company said they will spend $1.2 billion in severance pay


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The Irish-American service company Accenture is the latest to join the job-cut bandwagon. It has announced cutting down 19,000 jobs worldwide. The professional service company also announced that over a period of next 18 months they would also be spending $1.2 billion in severance pay.

The company is cutting 2.5 percent of its current workforce spread over a year and a half. The company also said that it would spend another $300 million to consolidate its office space. Those on work-based visas in the US such as H-1B are in a state of panic as if affected they may have tough times to face. Looking for a job in an already sinking market is not an easy task currently according to experts. The volatile job market also affects other industries and everyone from start ups to small business owners are closely watching the upcoming trends in the industry

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