E&Y threatens redundancies

Following several rounds of big four redundancies, Ernst & Young has
warned staff that 120 jobs in the UK and Ireland are on the line.

The cuts – which represent 1 per cent of EY’s workforce in Britain and
Ireland – are the smallest job cut announcements so far at the big four.

PwC and Deloitte have already cut between 1 and 2 per cent of their UK staff
respectively. KPMG has so far avoided mass redundancies in the UK by asking the
majority of its 11,000 workers to instead trim their hours.

KPMG’s Irish firm was not so lucky – it announced it will shed 200 staff,
around 10 per cent of its total workforce.

Rather than trim staff, PwC Ireland has opted to trim pay packages. Last
month it announced it would subtract 10 per cent from staff paychecks, as well
as offer staff sabbaticals and other means to reduce labour costs.

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