EY Lays Off Over 10% of U.S. Consulting Partners Amid Broader Workforce Reductions
• EY undertaking significant partner layoffs, impacting over 10% of consulting partners and 4% of strategy and transactions partners in the U.S.
• Cuts surpass typical scale of annual performance-based partner reductions
• Part of workforce reductions (3,000 U.S. employees laid off in April) amid revenue growth slowdown
• U.S. layoffs result from deferred hiring and abandoned plan to split auditing and consulting arms
• Other firms like KPMG, Deloitte, and McKinsey also implementing cuts due to evolving market conditions