[UK] Deloitte poised to cut more than 800 jobs

Deloitte intends to cut more than 800 jobs in the UK; the equivalent of about 3 per cent of its total UK workforce of 27,000, CPA Practice Advisor reports.

The job cull comes in response to a slowdown in demand and an easing in the pace of workers choosing to leave, according to a source familiar with the matter.

Growth reportedly slowed in the second half of the year because of falling client demand. Accountants at the Big Four firms - Deloitte, Ernst & Young LLP, PricewaterhouseCoopers LLP and KPMG LLP - are trying to keep their jobs amid economic uncertainty and a sharp decline in open roles.

“Today we announced some targeted restructuring across our businesses, which may put some roles at risk of redundancy,” Richard Houston - Deloitte UK CEO - said in a statement responding to queries.

He added that the cuts are subject to consultation.

The plans come in the wake of rival EY’s August announcement that it will cull around 5 per cent of staff from its UK financial services consulting division. 

PwC has also reportedly revealed that it is cutting pay increases and bonuses for some of its 25,000 UK employees.

Source: CPA Practice Advisor

(Links and quote via original reporting)

Deloitte intends to cut more than 800 jobs in the UK; the equivalent of about 3 per cent of its total UK workforce of 27,000, CPA Practice Advisor reports.

The job cull comes in response to a slowdown in demand and an easing in the pace of workers choosing to leave, according to a source familiar with the matter.

Growth reportedly slowed in the second half of the year because of falling client demand. Accountants at the Big Four firms - Deloitte, Ernst & Young LLP, PricewaterhouseCoopers LLP and KPMG LLP - are trying to keep their jobs amid economic uncertainty and a sharp decline in open roles.

“Today we announced some targeted restructuring across our businesses, which may put some roles at risk of redundancy,” Richard Houston - Deloitte UK CEO - said in a statement responding to queries.

He added that the cuts are subject to consultation.

The plans come in the wake of rival EY’s August announcement that it will cull around 5 per cent of staff from its UK financial services consulting division. 

PwC has also reportedly revealed that it is cutting pay increases and bonuses for some of its 25,000 UK employees.

Source: CPA Practice Advisor

(Links and quote via original reporting)