Ernst & Young Implements Major Job Cuts and Delays for New Hires in US Division
Ernst & Young is laying off dozens of partners in its US offices, impacting over 10% of partners in consulting and around 4% in strategy and transactions. The layoffs come as the accounting sector faces declining revenues and after the company abandoned plans to split its auditing and consulting units. This follows similar job cuts by other "Big Four" accounting firms, including KPMG and Deloitte. The move is part of EY's long-term transformation strategy to focus on areas of greatest client needs.