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EY US Just Fired 3000 People, Totally Not Related to Everest Falling Apart

a screenshot of EY's metaverse space

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.

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  1. PCAOB 2022 Annual Report, page 5.
    This is a map of the PCAOB’s 10 US offices.
    One is in Dallas, TX.
    No Texas contacts?

  2. Reading all of these stories generates a vivid sense of deja vu.

    Braxton, anyone?

  3. Have any EY insiders got any comments? I can believe EY staffers are happy with the situation.

    1. No layoffs in assurance (includes accounting advisory) or tax. Guessing most people that read this site are in these groups.

      1. Don’t know how reliable this is but I saw Consulting, Strategy and Transactions, People Advisory Services, and Core Business Services were mentioned in the all hands call. Heard assurance is safe so that tracks.

  4. Have any EY insiders got any comments? I can’t believe EY staffers are happy with the situation.

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