Accenture is Offering 7 Months Salary as Severance Payout amid Corona Layoff
Many companies have trimmed their headcounts by laying-off their employees in sectors during the corona pandemic period. Accenture too had laid-off their employees; however, this company is offering a 7-month severance package to its employees.
Earlier in the month of August, according to media reports, Accenture which has over 5 lakh employees worldwide was supposed to cut at least 5% of its ‘low-performing workforce and thousands of Indians were set to lose their jobs owing to the sluggish business the company is witnessing during the Covid-19 pandemic. Last month AFR report said that Accenture India’s employee base of nearly 2 lakh employees, could see thousands of them being affected by the move.
Accenture is offering a seven-months severance payout to employees impacted by its latest layoffs, and this offer is being made to the employees who are voluntarily resigning from the company. According to TOI report, the payout includes a three-month salary in lieu of the notice period and an additional four-months salary for those who resign voluntarily.
The package is high considering most companies offer a two-three months’ payout or one month of salary for every year of service put in.
Most technology companies are laying off people in areas they have less business while hiring in areas of demand, such as new digital technologies. Earlier, in the previous round of layoffs, Cognizant employees were offered severance packages of 12 to 21 weeks’ pay, depending on years of experience, and one week’s pay for every year of service.