Big Four firm EY has revealed plans to cut 150 jobs within its UK consulting division.
The cuts will primarily affect senior roles such as managers, senior managers, and directors. This move comes as demand for consulting services weakens following a boom during the pandemic.
EY’s UK & Ireland managing partner of consulting, Benoit Laclau, is also stepping down after five years in the role.
An EY spokesperson told The Times: “Benoit Laclau is stepping down as the UK & Ireland managing partner of consulting. Benoit will continue to serve some of EY’s largest clients and lead the firm’s technology driven pursuits in the UK. A selection process for his replacement is under way.”
The spokesperson added: “Regrettably, proposals put forward in part of the UK consulting practice may result in a reduction of 150 roles. A consultation process is now under way with those impacted.”
The firm reported its weakest annual revenue growth in 14 years, with UK consulting and strategy revenues declining by 4%. The cuts are part of a wider trend among Big Four firms to reduce headcount after significant hiring during the pandemic. Tighter economic conditions have led clients to cut back on spending, impacting demand for consulting services.
