AM I NEXT? NO LOVE AT ERNST & YOUNG (12/12/23)

Stephen Levine May 3, 2023

AUGUST 12, 2025 — 130 NEW JERSEY EMPLOYEES TARGETED

Following the lay-offs of hundreds of executive assistants whose roles were outsourced abroad in July, we find that the company intends to lay off 130 employees at its Hoboken, Iselin, and Secaucus, New Jersey offices on October 31, 2025. According to the official WARN filing, the reason given is “Operational inefficiencies” and “underperformance in some service lines.”

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?

AM I NEXT? NO LOVE AT MCKINSEY & COMPANY (11/28/25)

Stephen Levine March 1, 2023

NOVEMBER 28, 2025 — 200 TECH EMPLOYEES

The company cut 200 tech jobs last week as it employs AI to do some tasks. It may cut more jobs in other areas over the next two years as it increases its use of AI.

According to a company spokesperson, “AI is enabling unprecedented levels of opportunity and impact for our clients and us. We are continually working to make our professional support functions more efficient and effective, including by taking advantage of AI.”

APRIL 14, 2024 — 360 EMPLOYEES TARGETED

The company is continuing its strategic workforce restructuring, which involves reducing approximately 360 positions across various specialized departments and targeting those with technical expertise, including design, data engineering, cloud, and software team members.

According to a company spokesperson, “We invest to grow capabilities that match our clients’ priorities and adjust the size of a small number of others as appropriate. As part of this process, some roles will be eliminated within this small number of capabilities.”

MARCH 1, 2023 — Original post…

New York, New York-based McKinsey & Company, a global management consulting firm servicing corporations, governments, and other organizations has announced a major cost-reduction program to benefit the company's partners.

The initiative will impact approximately 2,000 non-customer-facing support staff employees while not affecting partners.

According to published reports, "Under a plan dubbed Project Magnolia, the management team is hoping the move will help preserve the compensation pool for its partners. The firm, which has seen rapid growth in its headcount during the past decade, is looking to restructure how it organizes its support teams to centralize some of the roles.

A company spokesperson noted, “We are redesigning the way our non-client-serving teams operate for the first time in more than a decade so that these teams can effectively support and scale with our firm."

AM I NEXT? NO LOVE AT KPMG (11/09/24)

Stephen Levine February 20, 2023

NOVEMBER 9, 2024 — 4% OF U.S. AUDIT WORKFORCE

The company has notified 330 employees in its U.S. audit workforce of their imminent separation.

According to a company spokesperson, “The actions reflect our ongoing focus to align the size, shape, and skills of our workforce to the market while addressing continued low levels of attrition. We remain focused on investing in our people to grow our business with quality.”

JULY 8, 2023 — 1,950 U.S. JOBS TO BE CUT

In a second round of layoffs, KPMG announced they will be reducing the U.S. workforce by 5%, or approximately 1,950 employees, including those in advisory, tax, and audit services.

The decision is being driven by business conditions and the lack of activity as firms wait out a chaotic political and financial environment.

FEBRUARY 20, 2023 — Original post…

London, England-based KPMG International, one of the Big Four accounting and consulting organizations, has announced a major reduction in force.

The personnel adjustment will impact two percent of its workforce, including 700 employees within the United States.

According to Carl Carande, vice-chair of KPMG's US advisory business, "We continue to have more people than needed to meet current demand. The reductions are spread across the US and across the consulting business but do not include any partners.

“We have experienced prolonged uncertainty affecting certain parts of our advisory business that drove outsized growth in recent years."

“These actions are incredibly difficult and impact people’s lives. We are supporting our colleagues with a holistic package that includes severance, healthcare, emotional and well-being support, career counseling, and learning and development opportunities.”