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Accenture Slashes 11,000 Jobs Sounding Alarm for Indian IT Sector

In a bold pivot toward generative AI and digital transformation, global consulting giant Accenture has unveiled an $865 million restructuring programme that includes laying off more than 11,000 employees over just three months. 

The move underscores a sweeping realignment of its workforce and raises acute concerns about headwinds for the broader Indian IT and consulting landscape.

Strategic Reset and Workforce Overhaul

During its most recent earnings call, Accenture disclosed that it recorded $615 million in restructuring charges in the June–August quarter, covering severance, asset impairments, and related costs.

An additional $250 million in charges is expected in the next quarter, carrying the total to $865 million for the six-month programme.

As part of the restructuring, the company is “exiting on a compressed timeline” employees whose skills cannot be viably retrained toward AI and data roles, CEO Julie Sweet said. The workforce headcount fell from 791,000 to 779,000 in the period.

Though Accenture did not precisely attribute all job cuts to the restructuring, it signaled that more exits may follow if employees cannot be reskilled to meet future needs. The company is also divesting non-core business lines and reallocating savings into new talent, operations, and AI investments.

Growth Outlook and AI as the Engine

Despite the cuts, Accenture reported a resilient performance: Q4 revenue stood at $17.6 billion, beating expectations, while full-year revenues grew 7 % to $69.7 billion, with net income rising about 6 %.

However, growth is moderating. For FY 2026, the firm projects revenue growth of 2–5 % in local currency — a more cautious outlook given constraints such as slowed federal spending in the U.S., which historically contributes around 8 % of its revenue.

Generative AI is already playing a critical role in Accenture’s future pipeline. The company said bookings in AI projects jumped from $3 billion to $5.1 billion in the past year. 

Meanwhile, its AI and data workforce has expanded to 77,000, up significantly from previous years. Sweet emphasized that upskilling “reinventors” would be the company’s primary strategy.

Implications for India’s IT Sector

Accenture employs a large number of staff in India as part of its global delivery model. Its willingness to exit employees unable to adapt could put pressure on local IT firms that follow similar outsourcing and consulting models. 

The restructuring highlights that cost, skill gaps, and shifting demand are forcing changes in employee mix across the sector.

Many Indian IT firms have already faced cooling demand, layoffs, and pressure to reskill. The Accenture move signals that the shift is accelerating: talent retention, continuous reskilling, and a sharp focus on AI and domain expertise will be critical differentiators.

Investors and stakeholders are watching closely — the actions at one of the world’s largest consultancies provide a bellwether for how the Indian IT services complex must evolve under the AI imperative.

Also Read: Amazon to Pay $2.5 Billion to Settle FTC Accusations

 

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Amazon to Pay $2.5 Billion to Settle FTC Accusations

Amazon has agreed to pay $2.5 billion to settle claims by the U.S. Federal Trade Commission (FTC) that it misled consumers into signing up for Amazon Prime memberships and made it unduly difficult for them to cancel. Under the settlement, Amazon will pay $1 billion in civil penalties and allocate $1.5 billion to reimburse affected consumers.

The FTC alleged in the complaint that Amazon employed “dark patterns”—user interface designs intended to mislead users—and used confusing or insufficient disclosures to enroll consumers into Prime without their full awareness. The agency also asserted that the cancellation process was overly burdensome, with internal discussions at Amazon referencing a cancellation process code-named “Iliad.”

Amazon did not admit wrongdoing as part of the settlement. But besides the monetary penalties, it must implement structural changes: the company is required to provide a “clear and conspicuous” option to decline Prime during checkout, fully disclose all material subscription terms at the point of enrollment, simplify cancellation—allowing users to cancel via the same method they enrolled—and submit to oversight by an independent third-party monitor to enforce compliance.

The settlement terms cover subscribers who joined Prime between June 23, 2019, and June 23, 2025. Consumers who enrolled via the challenged flows—such as certain checkout or signup pages—and who used fewer than three Prime benefits during a 12-month period will receive automatic refunds of up to $51. Others may file claims if, for example, they attempted unsuccessfully to cancel or enrolled via ambiguous flows and used up to 10 benefits.

Refunds must be disbursed within 90 days for automatically eligible consumers. For those needing to file claims, Amazon must issue a claims form within 30 days after automatic refunds are completed and allow up to 180 days for submission. Amazon will have 30 days to adjudicate claims.

FTC Chair Andrew N. Ferguson characterized the resolution as “historic,” saying the settlement “put billions of dollars back into Americans’ pockets” and eliminated misleading subscription practices.

The case originated from a 2023 FTC lawsuit that accused Amazon of enrolling customers without proper consent and hindering cancellation. That legal action was part of broader scrutiny by U.S. regulators of large tech firms’ consumer practices.

Some legal experts view the settlement as one of the most significant FTC enforcement outcomes in recent years, both because of its size and the systemic reforms it mandates. Others will observe closely whether Amazon’s changes withstand ongoing regulatory and judicial scrutiny, especially in light of other pending antitrust litigation against the company.

Amazon said in a statement that it “works incredibly hard to make it clear and simple for customers to both sign up or cancel their Prime membership” and welcomed the resolution as a path forward.

This settlement marks what the FTC describes as the largest civil penalty it has ever imposed under a rule violation and the second-largest consumer reimbursement fund in its history.

Also Read: At $57.6 Billion, Maruti Overtakes Ford, GM, Volkswagen in Valuation

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Supreme Court Approves JSW Steel’s Takeover of Bhushan Power & Steel

The Supreme Court of India has overturned its earlier May 2025 ruling and approved JSW Steel’s ₹19,700 crore resolution plan for Bhushan Power & Steel Ltd (BPSL).

The decision marks a significant development in one of the country’s most protracted insolvency cases under the Insolvency and Bankruptcy Code (IBC).

A bench led by Chief Justice of India BR Gavai re-heard the appeal after recalling the May judgment, which had rejected the resolution plan and directed BPSL’s liquidation.

The court dismissed objections raised by BPSL’s former promoters and certain creditors, including claims for a share in the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA).

The bench emphasized that the successful resolution applicant (SRA) cannot be compelled to address claims not part of the Request for Resolution Plan (RfRP) or the approved resolution plan.

The court also noted that the delays in implementing the resolution plan were not attributable to JSW Steel or the committee of creditors (CoC), citing legal challenges and property attachments as contributing factors. JSW Steel had invested heavily in modernizing BPSL, nearly doubling its production capacity from 2.3 million tonnes per annum in 2017 to 4.5 million tonnes per annum in 2025. The court observed that the purpose of the IBC—to transform a loss-making entity into a profit-making one—had been achieved.

The approval of JSW Steel’s resolution plan effectively concludes a six-year-long insolvency process that began in 2017 when Punjab National Bank initiated proceedings against BPSL. The plan had been approved by the CoC and the National Company Law Tribunal (NCLT) in 2019, and upheld by the National Company Law Appellate Tribunal (NCLAT) in 2020. However, dissenting creditors and former promoters challenged the plan in the Supreme Court, leading to the May 2025 ruling that quashed the plan and ordered liquidation. The court’s latest decision overturns that ruling, allowing JSW Steel to proceed with its acquisition of BPSL.

Following the Supreme Court’s approval, JSW Steel’s shares traded 1.23% lower at ₹1,134.40 apiece as of 12:55 p.m. on September 26.

The resolution plan had been a significant point of contention, with various stakeholders raising concerns over its terms and implementation. The court’s decision underscores the importance of adhering to the IBC’s framework and the finality of decisions made by the CoC and approved by the NCLT and NCLAT.

Also Read: Amazon to Pay $2.5 Billion to Settle FTC Accusations

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US to Probe Waaree Energies Over Alleged Solar Tariff Evasion

U.S. Customs and Border Protection (CBP) has initiated an investigation into Waaree Energies Ltd., India’s largest solar panel manufacturer, over allegations of circumventing U.S. tariffs on Chinese-made solar cells and panels by mislabeling them as “Made in India.”

The inquiry follows a complaint from the American Alliance for Solar Manufacturing Trade Committee, a coalition of U.S. solar manufacturers including Qcells and First Solar, which suspects that Waaree avoided antidumping and countervailing duties imposed on Chinese solar products.

The U.S. has enforced tariffs on Chinese solar cells and panels for over a decade, and similar measures have been applied to imports from Southeast Asian nations in recent years.

India’s solar panel exports to the U.S. have surged since these tariffs were implemented, raising concerns among domestic manufacturers about potential tariff evasion. In response to the investigation, CBP has required Waaree to provide cash deposits on certain imports to secure potential duties.

Waaree Energies has not publicly commented on the ongoing investigation. The company operates Waaree Solar Americas Inc., which handles its U.S. operations.

The probe is part of broader scrutiny by U.S. regulators into the global solar supply chain, particularly concerning the use of components linked to forced labor practices in China’s Xinjiang region. While CBP has detained shipments from Chinese companies due to forced labor concerns, the agency has also increased inspections of Indian solar panel exports, including those from Waaree, to ensure compliance with U.S. trade laws.

Following the announcement of the investigation, Waaree Energies’ stock price declined by approximately 6% on the National Stock Exchange of India, reflecting investor concerns over the potential impact of the probe on the company’s U.S. market presence. Despite this setback, Waaree’s shares had previously surged nearly 37% since its market debut in October 2024, indicating strong investor confidence in the company’s growth prospects.

The outcome of the investigation could have significant implications for Waaree Energies and the broader Indian solar industry, which has been expanding its footprint in the U.S. market.

Also Read: India Rises to Third in Global Tech Startup Funding in 2025

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Priya Nair Takes the Helm as HUL Overhauls Leadership

Hindustan Unilever (HUL) has initiated a significant internal restructuring in tandem with the elevation of Priya Nair as its new Managing Director and Chief Executive Officer, in a move aimed at revitalising performance in its domestic market. The changes, effective August 1, reposition HUL’s governance to grant Nair exclusive oversight of local operations and streamline decision-making.

Nair succeeds Rohit Jawa, who steps down after a tenure of just over two years. Her appointment marks the first time a woman will lead HUL in its history. In announcing the change, HUL underscored that the reorganisation is intended to give more autonomy to the Indian arm, enabling faster response to local market conditions and sharper execution on strategy.

Nair’s career spans three decades at Unilever and HUL. She joined HUL in 1995 and has held multiple leadership roles across home care, personal care, beauty & wellbeing, and marketing functions. Prior to her new role, she was President of Unilever’s global Beauty & Wellbeing business. Unilever’s global CEO, Fernando Fernandez, described her as bringing a “view of the world” that combines domestic understanding with international experience, and positioned her appointment as part of a decisive leadership shift to energise growth in India.

The leadership reshuffle coincides with efforts by HUL’s parent company to bolster India as a central growth market. India is Unilever’s second-largest revenue base, and the company has flagged that its future global growth trajectory will include India as a key pillar. As part of the structural changes, HUL has also tapped leaders from external organisations, including hiring senior executives from leading homegrown companies to lead food and financial functions.

The leadership change comes at a time when HUL is navigating a mix of headwinds and opportunities. In its latest quarterly results, HUL’s India unit reported an increase in profit driven by rural demand recovery and success from its refreshed brand portfolio. Revenue growth was moderate, and margin pressures persisted due to costs of raw materials, but the results were broadly viewed as showing resilience. The board has expressed confidence that under Nair’s leadership, the company can sharpen strategic focus and drive renewed performance.

Outgoing CEO Jawa, marking a 37-year career with Unilever, praised Nair’s capabilities and described her as “perfect casting” for the role. He noted that she melds deep India market experience with global leadership exposure, positioning her well to lead HUL through evolving consumer and competitive dynamics. The abrupt transition also reflects acknowledgement within the company of slowing momentum in value growth in recent quarters, and the need for sharper strategic direction in key segments such as beauty, wellness, and direct-to-consumer offerings.

With the new structure, Priya Nair will report directly to global leadership and exercise full control over the India operations rather than a shared accountability model.

The board and Unilever expect this configuration to accelerate decision cycles, align resource allocation more tightly with market priorities, and enable HUL to respond more nimbly to shifts in consumer behaviour. The industry will watch closely whether this leadership and structural reorientation leads to measurable improvements in growth, efficiency, and market positioning in India.

Also Read: At $57.6 Billion, Maruti Overtakes Ford, GM, Volkswagen in Valuation

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At $57.6 Billion, Maruti Overtakes Ford, GM, Volkswagen in Valuation

Maruti Suzuki India has surged ahead in global automaker rankings after attaining a market capitalization of $57.6 billion, moving it into the eighth position worldwide and surpassing longstanding giants including Ford, General Motors, and Volkswagen. The new valuation places Maruti ahead of Ford (valued at about $46.3 billion), GM (around $57.1 billion), and Volkswagen (approximately $55.7 billion).

The firm’s meteoric rise is tied to a sharp increase in investor optimism. Since August, Maruti’s share price has climbed about 25.5 %, outpacing the broader Nifty Auto index, which has posted gains of around 11 % in the same period. Market observers attribute this rally in part to recent revisions in India’s tax regime, including GST reforms that came into effect starting September 22, which have eased cascading levies on automobiles and improved affordability.

Inside India, Maruti retains a dominant position in the compact and small-car segments, accounting for more than 60 % of its volume in those categories. The company has also reported strong booking activity since the tax realignment, with estimates of up to 15,000 bookings per day and a milestone of around 30,000 vehicle deliveries in a single day during the Navratri festival period.

The valuation benchmark data was compiled by the Economic Times Intelligence Group. The calculation reflects prevailing stock prices and does not necessarily imply parity in revenues, profits, scale, or global footprint with the larger automakers Maruti has eclipsed in market cap terms.

While Maruti has now overtaken its Japanese parent in market value, its current valuation still trails far behind global leaders like Tesla (with a market cap in the hundreds of billions) and Toyota (over $300 billion). Analysts caution that comparisons based purely on market capitalization can mask differences in scale, international exposure, product mix, and the challenges associated with the shift toward electric mobility.

Maruti’s strong showing in 2025 adds an Indian automaker to the global top ten by value — a rare achievement in the automotive industry. Yet, Maruti also faces headwinds: the global transition to electric vehicles, supply chain constraints, commodity cost pressures, and increased competition both domestically and abroad. The company’s ability to maintain momentum while addressing those challenges will be observed closely by the markets and industry watchers.

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Adani Energy Solutions Achieves Zero-Waste-to-Landfill Status Across All Sites

Adani Energy Solutions has announced that its corporate headquarters and all its operational sites have been certified under the Zero-Waste-to-Landfill standard, a benchmark recognising efforts to eliminate waste disposal to landfills. The move underlines the company’s renewed commitment to environmental sustainability practices as it scales its operations.

According to multiple reports quoting company sources and certification authorities, all facilities under Adani Energy Solutions—ranging from its central offices to its field units—now meet the criteria set by the certifying body. The certification ensures that materials typically sent to landfill are either eliminated, recycled, or otherwise diverted, and that any residual waste is minimal and managed without direct landfill disposal.

In its statement, Adani Energy Solutions said the certification reflects a deeply embedded waste management strategy and has been achieved via a comprehensive audit across its infrastructure. The company undertook measures such as waste segregation at source, reuse of materials, recycling protocols, and partnerships with vendors and waste management professionals to secure this status. Executive leadership emphasised that the journey toward zero waste is ongoing, with continuous monitoring, compliance, and improvements planned.

The certification is seen as significant both for the company and for the wider energy sector in India. As regulatory pressures and investor expectations around environmental, social, and governance (ESG) criteria rise, companies are under increasing scrutiny over their waste-management and environmental footprints. By securing Zero-Waste-to-Landfill certification, Adani Energy Solutions places itself among a growing group of firms that view sustainable operations not just as regulatory compliance, but as a core strategic asset.

Environmental analysts who have reviewed the announcement observe that while certification represents a milestone, its real impact will depend on consistency in implementation. Key challenges mentioned include maintaining staff buy-in across all sites, logistics of recycling or repurposing certain kinds of waste in remote locations, ensuring no hidden waste streams, and periodic verification to avoid slippages in standards.

Stakeholders, including investors and sustainability-rating agencies, are likely to view this as a positive signal. For Adani Energy Solutions, the certification offers reputational benefits, and potentially lower risks around environmental liabilities and regulatory non-compliance. Additionally, operational savings may arise over time from reduced costs related to waste handling, disposal, and raw material sourcing when recycling and reuse are optimized.

Despite the praise, industry watchers caution that certifications of this kind are not uncommon in certain sectors, but full compliance across diverse, distributed operational realities can be complex. The company has indicated its intention to publish periodic performance reports to make transparent how it continues to manage waste, what metrics it uses, and how it addresses residual waste that cannot be recycled.

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Waaree Energies Invests ₹300 Crore in Subsidiary to Establish Lithium-Ion Cell Manufacturing Plant

Waaree Energies Limited has announced a strategic investment of ₹300 crore in its wholly owned subsidiary, Waaree Energy Storage Solutions Private Limited (WESSPL), to establish a 3.5 GWh lithium-ion advanced chemistry storage cell manufacturing plant. This move underscores Waaree’s commitment to expanding its footprint in the renewable energy sector, particularly in energy storage solutions.

The investment was executed through a rights issue, involving the allotment of 60 crore partly paid-up equity shares with a face value of ₹10 each. Of this, ₹5 per share was paid on application, with the remaining ₹5 payable on call. This capital infusion aims to bolster WESSPL’s capabilities in manufacturing advanced battery storage solutions, aligning with India’s increasing demand for energy storage as the country transitions towards renewable energy sources.

WESSPL, incorporated in February 2020, has reported nil turnover over the past three financial years, including FY25. Despite this, the fresh capital infusion positions the subsidiary to capitalize on the growing energy storage market. The establishment of the 3.5 GWh manufacturing facility is expected to play a pivotal role in enhancing grid stability and supporting the integration of renewable energy into India’s power infrastructure.

Following the investment, WESSPL will continue to operate as a wholly owned subsidiary of Waaree Energies, with no change in the shareholding structure. The company has confirmed that the transaction was executed for cash consideration and did not require any regulatory approvals.

This development is part of Waaree Energies’ broader strategy to diversify its portfolio and strengthen its presence in the renewable energy sector. The company’s recent acquisition of a 76% stake in Racemosa Energy India, a smart electric meters company, for ₹53 crore further reflects its commitment to integrating smart energy solutions into India’s energy infrastructure.

Market analysts anticipate that this strategic investment will enhance Waaree Energies’ position in the renewable energy sector, potentially leading to increased investor interest and positive movement in the company’s stock performance.

Also Read: Indian Hotels Company Signs 310-Room Taj Hotel in Visakhapatnam

 

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TruAlt Bioenergy Launches ₹839 Crore IPO Amid Growing Biofuel Demand

TruAlt Bioenergy Ltd, a prominent Bengaluru-based biofuels producer, has commenced its Initial Public Offering (IPO) on September 25, 2025, aiming to raise ₹839.38 crore. The IPO comprises a fresh issue of 1.51 crore equity shares aggregating to ₹750 crore and an offer for sale of 0.18 crore shares valued at ₹89.28 crore at the upper price band.

The price band for the IPO is set between ₹472 and ₹496 per share, with a face value of ₹10 each. Investors can bid for a minimum of 30 shares, translating to a minimum investment of ₹14,880 at the upper price band. The subscription period will remain open until September 29, 2025, with the allotment process expected to be finalized by September 30. Shares are scheduled to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 3, 2025.

Ahead of the public offering, TruAlt Bioenergy secured ₹252 crore from anchor investors, including Tata Mutual Fund, HDFC Mutual Fund, Bandhan Mutual Fund, SBI General Insurance Company, Societe Generale, and Citigroup Global Markets Mauritius. These investors were allotted 50.76 lakh equity shares at ₹496 per share.

The proceeds from the IPO will be utilized for expanding the company’s ethanol production capacity, establishing multi-feedstock operations, and reducing existing debt. TruAlt Bioenergy is among India’s leading ethanol producers, with an installed capacity of 2,000 kiloliters per day (KLPD), accounting for approximately 3.6% of the national capacity in Fiscal 2025.

In the grey market, the shares of TruAlt Bioenergy are trading at a premium of around ₹80 over the issue price, indicating positive sentiment among investors ahead of the listing.

Analysts view the IPO favorably, citing the company’s strong position in the biofuels sector and the government’s supportive policies promoting renewable energy. However, they also caution about the risks associated with the volatility of raw material prices and regulatory changes in the biofuels industry.

Investors interested in participating in the IPO can apply through various online platforms and stockbrokers. Given the promising outlook for the biofuels sector and the company’s strategic initiatives, TruAlt Bioenergy’s IPO presents an opportunity for investors seeking exposure to the growing renewable energy market in India.

Also Read: PhonePe Files For IPO via Confidential Route, Aims to Raise ₹12,000 Crore

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Tata Steel Pumps ₹4,054.66 Crore into Overseas Arm T Steel Holdings

Tata Steel has injected ₹4,054.66 crore into its overseas subsidiary, T Steel Holdings, in a move that underlines the group’s strategic investment in its international operations. The capital infusion, approved by Tata Steel’s board, marks one of the latest steps in the company’s attempts to strengthen its global presence and address working capital or financial requirements of its foreign entity.

The funds are being routed into T Steel Holdings, which oversees Tata Steel’s overseas assets and operations. While Tata Steel has not provided detailed public disclosures about the precise use of these funds, sources familiar with the matter indicate that the infusion will support both operational needs and ongoing expansion or modernization programmes abroad. The move is expected to help offset currency risks, fund capital expenditure in line with market conditions, and shore up balance sheet health for overseas operations.

Tata Steel’s annual reports and filings periodically show performance pressures in foreign units, including those in Europe and Southeast Asia, where raw material costs, energy prices, import/export duties, and logistic expenses have had notable impacts. By transferring capital via the parent company, Tata Steel appears to be ensuring that its subsidiaries have sufficient liquidity to navigate volatile global steel market conditions.

Financial analysts suggest that the ₹4,054.66 crore infusion may also be aimed at facilitating compliance with regulatory norms in overseas jurisdictions, enabling investments in cleaner technologies or facility upgrades, and safeguarding against disruptions in supply chains. Tata Steel has in recent years made several commitments toward decarbonisation and environmental sustainability; overseas units often require upgraded infrastructure to meet increasingly stringent environmental standards.

The timing of the infusion is significant: it comes amid a global steel industry facing challenges such as overcapacity, fluctuating demand, freight rate volatility, and raw material price inflation. Such external pressures have compressed margins for many firms, especially for overseas units operating in Europe where energy and carbon costs can erode profitability rapidly. For Tata Steel, maintaining operational resilience abroad is critical not only for revenue diversification, but also for exposure to advanced steel-making markets and technology.

Investors have reacted to the news with cautious optimism. On one hand, the investment signals Tata Steel’s continued commitment to its overseas subsidiaries and suggests confidence in their long-term potential. On the other, some market watchers indicate that sustained capital infusions might raise concerns about returns if those overseas operations continue to underperform or if the parent company faces cash flow constraints domestically.

Regulatory filings pertaining to this transaction are expected to shed more light on the subsidiary’s business plans, including where precisely the capital will be deployed — whether in debt reduction, scaling production, or upgrading technology. Tata Steel’s management, while not yet disclosing granular details, has reaffirmed its focus on disciplined capital expenditure and cost management across its businesses.

The ₹4,054.66 crore investment in T Steel Holdings underscores Tata Steel’s strategy of buttressing its overseas operations amid global industry headwinds. It reflects a balance between ensuring short-term stability for those units and positioning them for longer-term competitiveness in a shifting international steel landscape.

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