Capgemini headcount stood at 337,200 in Q1 FY24, a drop of 3200

Today, French IT major Capgemini reported a consolidated Q1 2024 ending March financial results.

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The company reported Q1 2024 revenues of €5,527 million, -3.5% year-on-year at current exchange rates and – 3.3% at constant exchange rates.

In a macro environment that remains soft, large corporations and organizations are still prioritizing operational agility and cost-efficiency programs with fast payback, at the expense of non-strategic and discretionary deals.

In that context, Capgemini’s high value-added service offerings – most notably in the Intelligent Industry, as well as in activities driven by Cloud, Data & Artificial Intelligence – enjoyed solid traction in Q1.

Aiman Ezzat, Chief Executive Officer of the Capgemini Group, said: “As anticipated, the market continued to slow down in Q1, and we confirm the growth trough is now behind us.”

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“We expect the market to gradually pick up toward an attractive exit growth rate in Q4, setting up for a more tangible acceleration in 2025”, Aiman Ezzat added.

Aiman Ezzat further said, “The pipeline continues to grow and the demand for large-scale digital transformation projects remains strong. Client focus remains on operational and cost efficiency programs, however, we also see good traction for our high-added value services in the Intelligent industry as well as for our sustainability offerings.”

Capgemini’s Head Count

The Group’s total headcount stood at 337,200 as of March 31, 2024, down 6% year-on-year. The offshore workforce represents 57% of the total headcount, i.e. 192,000 employees.

The company headcount dropped by 3200. On December 31, 2023, the Group’s total headcount stood at 340,400, down by 5% year-on-year.

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The onshore workforce decreased slightly to 145,800 employees, down by 2% year-on-year, while the offshore workforce was down by 7% to 194,600 employees, i.e., 57% of the total headcount.

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