It would be a much more noble deed on part of these companies if they invested all these billions in retaining those employees instead who are being laid off. But I guess corporate interests are...
It would be a much more noble deed on part of these companies if they invested all these billions in retaining those employees instead who are being laid off. But I guess corporate interests are driven by profitability and shareholder worth rather than nobility and ethics?
Accenture recently announced they are planning to layoff 19000 people over the next couple of months and this AI news aligns with that. They overhired in the pandemic boom due to their future...
Accenture recently announced they are planning to layoff 19000 people over the next couple of months and this AI news aligns with that. They overhired in the pandemic boom due to their future growth projections being based on those unsustainable numbers, so now they have an overflowing bench of folks who are not currently staffed in roles. These people are still paid their normal rate and benefits while not staffed, and a good portion are new grads with limited sellable skillsets. Contracts for new projects have dried up or repeatedly get pushed back in start dates, and so it compounds the over-staffing issue.
There's a bit of a rubber band effect going on where these layoffs removed some of the best qualified people who would have been the perfect fit for the few new projects that have been signed. So they're forced back into hiring on new people who would be able to deliver on those projects, but that's expensive. Accenture is guilty of thrusting under-qaulified people into positions they are not ready for because it offers them a cheap resource to make their biggest ROI when selling them out to available roles. AI is just gonna be another tool for them to continue this practice and if you've ever had the unfortunate experience of dealing with Accenture, it's not going to bode well. They live by a culture of crunch and underreporteding chargeable hours, and having to compete against AI is just going to worsen that culture.
It would be a much more noble deed on part of these companies if they invested all these billions in retaining those employees instead who are being laid off. But I guess corporate interests are driven by profitability and shareholder worth rather than nobility and ethics?
Accenture recently announced they are planning to layoff 19000 people over the next couple of months and this AI news aligns with that. They overhired in the pandemic boom due to their future growth projections being based on those unsustainable numbers, so now they have an overflowing bench of folks who are not currently staffed in roles. These people are still paid their normal rate and benefits while not staffed, and a good portion are new grads with limited sellable skillsets. Contracts for new projects have dried up or repeatedly get pushed back in start dates, and so it compounds the over-staffing issue.
There's a bit of a rubber band effect going on where these layoffs removed some of the best qualified people who would have been the perfect fit for the few new projects that have been signed. So they're forced back into hiring on new people who would be able to deliver on those projects, but that's expensive. Accenture is guilty of thrusting under-qaulified people into positions they are not ready for because it offers them a cheap resource to make their biggest ROI when selling them out to available roles. AI is just gonna be another tool for them to continue this practice and if you've ever had the unfortunate experience of dealing with Accenture, it's not going to bode well. They live by a culture of crunch and underreporteding chargeable hours, and having to compete against AI is just going to worsen that culture.