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Ernst & Young is laying off dozens of partners in its US division

Ernst & Young is laying off dozens of partners in its US division

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Ernst & Young is laying off dozens of partners in its US offices amid declining revenues in its accounting sector and a failed attempt to break up the firm.

The company said the layoffs will affect more than 130 junior and senior employees who work primarily in the consulting side of the company’s operations in the United States.

The layoffs will affect more than 10% of partners in consulting and about 4% in strategy and transactions. According to the Wall Street JournalHe was the first to report the news.

Management began informing affected workers of the decision last week, according to the newspaper.

The Post requested comment from Ernst & Young.

A company spokesperson told The Journal that the layoffs will affect a “limited number of people.”

Ernst & Young also said it would postpone the start dates of some new employees in certain areas of the business.

“These decisions were made thoughtfully with respect and fairness to all our employees and the future of our business,” the spokesperson said.

Ernst & Young is laying off dozens of partners in its U.S. offices amid declining revenues in the accounting sector. Allstein Bild via Getty Images

“EY will provide comprehensive support to those affected.”

“As part of our long-term planning, EY has transformed our business to focus on the areas where our clients have the greatest needs,” the spokesperson added.

In April, EY said it would lay off 5% of its workforce, affecting about 3,000 of the company’s employees in the United States.

The move was taken after the company abandoned plans to split its audit and consulting units into two separate companies.

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The company said the layoffs will affect more than 130 junior and senior employees. New York Post

In June, KPMG, another of the “Big Four” accounting services firms, laid off 5% of its workforce due to slowing demand for consulting.

Deloitte, another accounting and consulting giant, cut 1.5% of its workforce — or 1,200 jobs — in April.

The job cuts at EY were announced during a period of transition for the company.

The company recently appointed Janet Troncal as its next CEO.


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