French IT consulting group Capgemini on Tuesday forecast weaker revenue growth and said it would slow down hiring in 2023 amid a tech sector downturn.
" not going to do a prediction regarding headcount growth, but to see our growth in 2023, we'll have to increase headcount," he added.
Capgemini expects its 2023 revenue to grow between 4% and 7% in constant currency, compared with 16.6% last year. Its annual revenue reached 22 billion euros on bookings of 23.7 billion euros, an increase of 16.8% at constant exchange rates. The Paris-based company also forecast 2023 operating margin in a range of 13.0% to 13.2%, and organic free cash flow of around 1.8 billion euros.
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