The company is suffering from the declining consulting business.
(Photo: Reuters)
Dusseldorf The auditing and consulting company EY has announced extensive job cuts in the USA. The company said it had made the “difficult decision” to cut a good 3,000 jobs. EY justified the step with overcapacities in several areas. This should include the advisory units in particular.
The cut comes just a week after EY halted plans to break up the group globally. The company wanted to spin off the entire consulting business into an independent company. But the internal differences about the details of the separation were so great, especially in the USA, that no agreement could be reached between the partners.
EY underlined that the announced job cuts were not a reaction to the failure of the split plans. It is a result of the more difficult current economic conditions, which EY is also suffering from.
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