Coles Outsources Roles to Accenture, Shifting Up to 1,000 Jobs to India
ACN sits 45% above its 52-week low of $118.15.
Summary
Accenture has secured a deal with Australian grocer Coles to take over some corporate functions, with reports indicating up to 1,000 roles may move to India. The contract aligns with a broader trend of Australian firms turning to global partners for cost savings amid retail competition. For Accenture, this adds a notable client win in the Asia-Pacific region, reinforcing its outsourcing pipeline despite recent revenue guidance cuts. The deal's financial terms were not disclosed, but the scale suggests a meaningful engagement. This follows Accenture's June guidance reduction that sent shares down sharply; new large deals could help stabilize sentiment.
At the time of this announcement, ACN was trading at $170.99 on NYSE in the Trade & Services sector, with a market capitalization of approximately $104.7B. The 52-week trading range was $118.15 to $291.09. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.