DECEMBER 12, 2023 — CUTTING 30+ PARTNERS AND 100 CONSULTANTS
Facing economic headwinds, E&Y continues cutting partners and consultants, including 10% of partners in consulting, 4% in strategy and transactions, and the audit and tax divisions.
Ernst & Young is laying off dozens of partners across all U.S. businesses, a deeper round of partner cuts than usual as the Big Four accounting firm faces slowing demand for certain services and seeks to cut costs following its failed plan to break up the firm. Both senior and junior levels are included.
According to a spokesperson, “These decisions have been thoughtfully made with respect and fairness for all of our people and the future of our business. As part of our long-term planning, EY has been transforming our business to focus on the areas where our clients have the greatest needs.”
MAY 3, 2023 — Original post…
London, England-based Ernst & Young, a professional services network offering accountancy, auditing, and consulting services, has announced that it will initiate a 5% reduction in the U.S. workforce.
The reduction will impact approximately 3,000 employees.
According to a company spokesperson, “After assessing the impact of current economic conditions, strong employee retention rates, and overcapacity in parts of our firm, we have made the difficult business decision to separate approximately 3,000 US employees. The spokesperson stressed that the reduction is not a result of the firm's previous plan to split off the firm’s consulting business and much of its tax practice to form a publicly traded company."
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?