Reuters | Apr 21, 2023 09:56 a.m. ET
(Reuters) – Deloitte will cut about 1,200 jobs, or 1.5 percent of its workforce, in the United States, the Financial Times reported on Friday, citing internal employee communications.
The newspaper said layoffs at the auditing firm will be higher in areas such as the financial advisory business, which has been affected by a decline in merger and acquisition activity.
Earlier this week, Deloitte’s rival Ernst & Young said it would lay off 5% of its workforce in its US arm, less than a week after the unit objected to torpedoing the global accounting giant’s plan to break up its audit and advisory units.
Deloitte did not immediately respond to a Reuters request for comment.
Many financial firms have cut jobs in recent months including major Wall Street banks, asset managers and financial firms amid the turbulent macroeconomic environment that has put pressure on consumers and soured demand in many core business units.
Deloitte is part of the Big Four accounting firms that include EY, KPMG, and PricewaterhouseCoopers.
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written by: Reuters