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You're absolutely right but also it works - stock went up 4% immediately.

The market can remain irrational longer than you can remain solvent etc etc.

Consulting firms margins are based on billable percentages across their staff. If you fire non-billable staff you are more profitable. This is a rational action by the market, acknowledging that this will likely make the company more profitable. (Assuming you don't believe they're letting go of so many people that their billable professionals will no longer function, but typically the slack gets picked up and things move on)

Very frustrating clickbait word “slashes”. Destroys, annihilates would all convey the same alarming message until you get context like this.

Yeah, someone leaned too hard on the Powerwords plug-in.

800k is misleading, probably vast majority of those Accenture is just acting as a middleman between employee and large company

Those middleman roles would not be being cut by this, those roles will continue until the large company stops paying