Well we knew this was coming. Reuters:
Ernst & Young’s U.S. arm said on Monday it was shedding 5% of its workforce, less than a week after the unit’s objection torpedoed the global accounting giant’s plan to break up its audit and consulting units.
The layoffs will affect around 3,000 of the company’s U.S. employees.
The decision was taken after assessing the impact of current economic conditions, strong employee retention rates and “overcapacity” in parts of the company, EY U.S. said.
Not many more details out yet, we’ll keep you posted.