11:56 AM EDT, 09/17/2024 (MT Newswires) -- Accenture ( ACN ) is delaying most staff promotions until next June indicating a prolonged slump affecting the consultancy industry, Bloomberg reported Tuesday, citing people familiar with the matter.

The technology consulting company typically announces workforce promotions in December but is delaying those decisions by around six months, the sources told Bloomberg, citing an internal blog post last week.

Accenture ( ACN ) did not immediately respond to a message from MT Newswires seeking comment.

Shares of the company were down 4.2% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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