Accenture to promote 15,000 Indian employees in June, 43,000 in FY25
Accenture
will promote around 15,000 employees in India as part of a
global promotion drive
of nearly 50,000 staff in June this year. "I am writing to share and celebrate with you that Accenture will promote almost 50,000 people around the world in June, including approximately 15,000 people in India. In total, across all of FY25, more than 43,000 of our people in India will have received a promotion,"
Accenture India
Senior Country Managing Director Ajay Vij wrote in an internal memo to employees, seen by PTI.
Accenture follows a September-August financial year.
In December, Accenture did some stay-at-level (base pay) increases for some employees.
Between June and December, a majority of Indian employees will have got base pay increases.
"As a reminder, bonus and performance equity decisions for those eligible will continue to be made as part of the December cycle, and we will also continue to evaluate the opportunity for stay-at-level increases at that time," Vij added.
Promotions and base pay increases will be internally communicated to employees between May 26-29.
In September 2024, the Ireland-headquartered firm permanently shifted its promotion cycle from December to June, citing better visibility of client spending and demand.
"We've now permanently shifted that promotion cycle, so we will do our big promotion cycle in June, and our smaller one in December, to better match when our clients are setting their budgets and we have better visibility, and that's what we're seeing again.
"The justification for that is clear that we'll really know IT spending and spending on our services in the budgets in January and February," Accenture CEO Julie Sweet had said during the company's earnings call in September.
Accenture is one of the largest employers in the Indian
IT services sector
, with over 3,00,000 staff. Its global employee count stands at 7,74,000.
Accenture reported revenues of $64.90 billion in FY24.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
3 minutes ago
- Hindustan Times
IKEA expects India business to grow 10 pc in FY'25, to expand network
Almhult (Sweden), Aug 20 (PTI) Leading Swedish furniture and home furnishing retailer IKEA expects its India sales to grow by over 10 per cent in the financial year 2025, a top company official said here. IKEA expects its India sales to grow by over 10 per cent in the financial year 2025 IKEA follows the September-August financial year. While speaking with a media delegation, Ingka Group Retail Manager Tolga Öncü said that the company is confident of its expansion in the Indian market, where it plans to open a slew of small-format stores along with its traditional large (Blue Box) stores. Ingka Group operates IKEA stores in 31 countries, including India. IKEA, which gets around 30 per sales through online channels, is seeing an impressive jump in queries. In FY24 IKEA in India reported a widening of its total loss to ₹1,299.4 crore, though its revenue from operations was at ₹1,809.8 crore, up 4.5 per cent. When asked about the growth of IKEA in India, Tolga Öncü said: 'So right now, after many years, seven years of being in India with the retail business, we have finally come to a point where we feel and see that the catch-up is happening for us." He also acknowledged that IKEA's growth was slowed down in India due to the pandemic and other related disruptions. Before that, it was very aggressive in its growth. "We see that we are growing faster (in India) than many other markets where we are," he added. With the learning of the last seven years of retail operations in India, IKEA is trying to be "more relevant" for the many Indians and their everyday life at home. 'India is actually as big as a continent. And of course, we are a growth mindset organisation. So, we are expecting big growth for the coming years in India. We are establishing all the needed resources and focusing on growing IKEA in India, and I believe that this is just the beginning of what we are experiencing now,' he said. Oncu did not comment on the number of stores that IKEA will build in India, but said: 'There is an enormous amount of stores that need to be established in India, in order for us to reach the many Indian families and consumers.' IKEA, which recently opened a city store in Delhi, started retail operations in India in 2018 with its Hyderabad store, followed by Navi Mumbai and Bengaluru. To grow faster and increase its penetration in India, IKEA has changed its approach to expand with several small stores, which could be sized from 2,000 to 5,000 sq feet, besides having traditional large format stores and city stores. "So I see a big potential (in small stores). After many decades, we have learned how to establish, operate, and use our traditional stores. And now we are seeing that where these traditional ones are not able to be… we can now become closer to many people by developing these smaller formats. And of course, it's a combination and you need to see it as a part of an ecosystem,' he added. Öncü also acknowledged that India is a value-conscious market, and to grow beyond the metro market, IKEA needs to offer low-priced items. 'We need to establish a very low-cost operation when it comes to the fulfilment, the logistic part, when it comes to the operation, so that all the costs we can lower, we can also lower the prices of our products to become even more affordable,' he added.
Hindustan Times
3 minutes ago
- Hindustan Times
Mindspace Business Parks REIT raises ₹550 crore via sustainability-linked bonds
Mindspace Business Parks REIT on August 20 said it has raised an additional ₹550 crore from the International Finance Corporation (IFC), the World Bank Group's private sector investment arm, through a bond issue. It is the first REIT to issue sustainability-linked bonds under SEBI's new ESG framework. "With this issuance, we're taking a big step forward on our sustainability journey," Ramesh Nair, MD and CEO of Mindspace REIT, said, (Representational photo)(Mindspace Business Parks REIT) In a regulatory filing, the company said the additional ₹550 crore fundraising follows its initial capital raising of ₹650 crore through the issuance of Sustainability-Linked Bonds (SLBs) in June 2024, bringing the total SLB issuance to ₹1,200 crore. The bond tenure is eight years. According to the company, this issuance marks a landmark moment in India's real estate sector, as the first SLB issuance by an Indian REIT under the new Environment, Social and Governance (ESG) framework introduced by the Securities and Exchange Board of India (SEBI). Also Read: Mindspace REIT raises ₹650 crore from IFC via sustainability linked bonds The company said in a statement that this milestone reflects Mindspace REIT's leadership in responsible and sustainable financing, demonstrating complete alignment with SEBI's enhanced standards for transparency, independent review, and ongoing compliance in ESG debt issuances. Also Read: Mindspace REIT buys 8.1 lakh sq ft commercial complex in Hyderabad for ₹512 crore Ramesh Nair, MD and CEO of Mindspace REIT, said, "With this issuance, we're taking a big step forward on our sustainability journey. Being the first REIT to raise Sustainability-Linked Bonds under SEBI's new ESG framework shows our intent to lead from the front. Partnering with IFC gives us global backing, and it will help us drive energy efficiency, add more green-certified space, and build a portfolio that's ready for the future." According to the company, by linking financial outcomes to sustainability performance, Mindspace REIT is embedding ESG principles into the core of its growth strategy. 'IFC is pleased to deepen its partnership with Mindspace REIT through an additional investment, fuelling the growth of REITs as an asset class and strengthening India's real estate sector. By championing sustainable buildings and innovative financing, we are creating opportunities for developers, investors, and communities," Imad N Fakhoury, Regional Director for South Asia, IFC, said. Also Read: Mindspace REIT acquires 1.82 mn sq ft office complex in Hyderabad for ₹2038 crore enterprise value "This investment will accelerate the development of world-class office infrastructure that generates jobs, attracts global capability centres and top employers, and strengthens India's business environment," Fakhoury said.
News18
9 minutes ago
- News18
Odisha govt clears 18 investment proposals worth Rs 4,515 crore
Bhubaneswar, Aug 20 (PTI) The Odisha government on Wednesday approved 18 investment proposals worth Rs 4,515 crore, which will create employment opportunities for 8,200 individuals, an official statement said. The State Level Single Window Clearance Authority (SLSWCA) chaired by Chief Secretary Manoj Ahuja approved the investment proposals, which would be set up in eight districts of the state, it said. The approved projects are proposed to be set up in the districts of Angul, Dhenkanal, Ganjam, Jajpur, Jagatsinghpur, Khurda, Sundargarh, and Jharsuguda. Konark Ispat Ltd got the approval of the Odisha government to expand its capacity in its steel plant in Jharsuguda with an investment of Rs 990 crore, the statement said. In the green energy and green hydrogen sector, the state has approved three investment projects worth Rs 1,123 crore, which include setting up a 2 GW solar cell manufacturing unit in Ganjam district with an investment of Rs 750 crore, it said. The state panel has also given its approval for the establishment of a hyperscale data centre facility in Khurda with an investment of Rs 501 crore, an IMFL bottling unit in Khurda (Rs 300 crore), a five-star hotel in Paradip (Rs 211 crore), and a recycling unit in Angul (Rs 350 crore). PTI BBM BBM RG view comments First Published: August 20, 2025, 21:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy. Loading comments...
