Irish-American IT firm Accenture will cut 19,000 jobs, the company has confirmed.

The company said that more than half of the 19,000 eliminated roles will be in non-billable corporate functions.

The cuts, which amount to around 2.5 per cent of the firm's global workforce, come after Accenture lowered its annual revenue and profit forecasts. The company expects annual revenue growth to be between 8-10 per cent, compared to previous projection of an 8-11 per cent increase.

Accenture is the latest major IT services firm to announce job cuts, with the worsening global economic outlook dampening corporate spending on the sector. Other major players in the space including IBM and India's Tota Consultancy Services have all narrowed their growth projections.

Julie Sweet, Accenture chief executive officer, said in a post-earnings call that the company was trying to become "leaner" and that it remains "focused on executing compressed transformations."

In its earnings for the second quarter of fiscal 2023 ending February 28, 2023, Accenture ended the quarter with revenues of $15.8 billion, an increase of 5% in U.S. dollars and 9 per cent in local currency over the same period last year. Revenue was up by 12 per cent in Europe to $5.3 billion.

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