French IT consulting giant Capgemini reported a 3.5% decline in first-quarter revenue to $5.92 billion from $6.1 billion, attributing the dip to an anticipated market slowdown. CEO Aiman Ezzat expressed confidence in a gradual recovery throughout the year, foreseeing While North America, Capgemini's second-largest market, saw a 7.1% revenue decline, marking a challenging quarter, Ezzat emphasized a projected improvement from the sales trough in Q1. The company's order bookings also fell by 3.5%. Additionally, Capgemini witnessed a 6% decrease in its headcount, with 337,200 employees by the end of March 2024 compared to the previous year. Despite these challenges, Capgemini's shares saw a modest decline of 1%, closing at $219.26 per share, indicative of measured investor sentiment amid the company's strategic positioning for future growth.
