This just hit our tipline:
Not as impressive as the few hundred pink slips being given out across the US, but it was announced this morning via webcast that 36 non-client facing roles in business support services (think HR, Admin Services etc) were being made redundant in EY Ireland.
Here’s a timeline of events:
- An All Hands meeting for non-client facing staff was called for 10am, 15th October.
- The COO and Managing Partner for Ireland gave the webcast.
- Attendees were told 36 people would be losing their jobs, and if you were one of the unlucky ones, you would receive an email at 11am.
- The email would invite you to a meeting with a HR representative. These calls were scheduled to happen before 2pm same day.
- They did not give any indication as to who it would be on the webcast and instead, we were left to watch our inboxes until an email did or did not hit by the time the big hand hit 11am.
- Those being made redundant would be given ‘support’ with a view to be exiting the business in mid-December. Just in time for Christmas.
- The reason for the redundancies was through finding areas of efficiency to safeguard the business for the future.
- It was confirmed that no similar cuts were being made to client-facing roles. It is unclear if those staff are even aware this has happened. There has been no firm-wide communications etc about it.
As usual, EY tried to spin that they would look to help those affected by offering CV advice, severance packages, support etc. They will be opening 6 new positions, which they invite those made redundant to apply for. No word yet on what those roles are.
It is clear these redundancies are a cost-cutting measure, and are not linked to performance ratings.
We’ve emailed EY Ireland PR to see what they have to say about today’s job cuts. If we hear back from them, we’ll let you know.
In the meantime, get in touch with us using the contact info below if you have anything else to add about today’s layoffs.
Good luck to those who were affected.