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Project Everest

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businessfinance1 year ago•0 min saved

"Arm's Debt-Fueled Project Everest Spin-Off and AI-Driven Stock Surge"

EY, the global professional services firm, reportedly took on $700 million in debt to fund its ill-fated "Project Everest" spin-off plan, which aimed to create a separate technology business. The project faced financial troubles and was eventually abandoned, leading to significant losses for the company.

via Financial Times|

#businessfinance #debt #ey

business2 years ago•1 min saved

EY's Breakup Plan Officially Scrapped - WSJ

Ernst & Young's effort to split the firm's auditing and consulting operations, known as Project Everest, is dead for the next few years, according to internal webcasts and sources. Leaders of EY's dominant U.S. and U.K. operations are now focused on repairing the damage caused by the 18-month effort to split the firm.

via The Wall Street Journal|

#auditing #breakup-plan #business