Accenture CEO Julie Sweet asks staff to defer vacation for Q4

Accenture CEO Julie Sweet has urged employees to help deliver a stronger fourth quarter, making a one-time change to its vacation policy that allows staff to carry unused leave into the next financial year. The move aims to keep more employees available during the crucial August sales period, according to a memo seen by Bloomberg.

The temporary change comes after Accenture reported a 2% decline in new bookings for the quarter ended May 31 and forecast fourth-quarter revenue of $17.75 billion to $18.4 billion, below analysts' average estimate of $18.47 billion. Accenture's shares fell around 20% in a single day following its June earnings announcement.

Accenture's performance is being watched amid concerns about artificial intelligence's impact on consulting. While Sweet has positioned AI as a long-term opportunity, Bloomberg Intelligence noted that tangible evidence AI is accelerating demand remains limited. Accenture’s financial year ends on August 31.