{"id":13532,"date":"2023-04-17T18:16:11","date_gmt":"2023-04-17T18:16:11","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/ey-us-to-slash\/"},"modified":"2023-04-17T18:19:50","modified_gmt":"2023-04-17T18:19:50","slug":"ey-us-to-slash","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/ey-us-to-slash\/","title":{"rendered":"EY US to slash headcount days after nixing split"},"content":{"rendered":"<p>(Reuters) &#8211;     Ernst &amp; Young&#8217;s U.S. arm said on Monday it was shedding 5% of its workforce, less than a week after the unit&#8217;s objection torpedoed the global accounting giant&#8217;s plan to break up its audit and consulting units.<\/p>\n<p>The layoffs will affect around 3,000 of the company&#8217;s U.S. employees. <\/p>\n<p>The decision was taken after assessing the impact of current economic conditions, strong employee retention rates and &#8220;overcapacity&#8221; in parts of the company, EY U.S. said.<\/p>\n<p>After months of trying to woo partners, London-based EY last week called off a proposed overhaul of its businesses that was meant to address regulatory concerns over potential conflicts of interest after its U.S. Executive Committee decided not to ratify the plan.<\/p>\n<p>Corporate America has been hit by a wave of layoffs after the Federal Reserve&#8217;s quantitative tightening yanked the economy out of pandemic-era exuberance.<\/p>\n<p>Among EY&#8217;s &#8220;Big Four&#8221; peers, KPMG is reportedly laying off some staff. Deloitte and PricewaterhouseCoopers (PwC) are also part of the Big Four.<\/p>\n<p>EY&#8217;s layoffs were first reported by the Financial Times, which said the cuts would chiefly affect the consulting business.<\/p>\n<p \/>\n<p> (Reporting by Niket Nishant and Maria Ponnezhath in Bengaluru; Additional reporting by Mrinmay Dey in Bengaluru; Editing by Shailesh Kuber and Shinjini Ganguli)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/ey-us-to-slash\/the-ernst-young-building-rises-above-times-square-in\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3G0OD-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3G0OD-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) &#8211; Ernst &amp; Young&#8217;s U.S. arm said on Monday it was shedding 5% of its workforce, less than a week after the unit&#8217;s objection torpedoed the global accounting giant&#8217;s plan to break up its audit and consulting units. The layoffs will affect around 3,000 of the company&#8217;s U.S. employees. The decision was taken after [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":13533,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[1223],"class_list":["post-13532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3G0OD-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/13532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=13532"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/13532\/revisions"}],"predecessor-version":[{"id":13534,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/13532\/revisions\/13534"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/13533"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=13532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=13532"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=13532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}