The cull came as the lack of confidence in the corporate finance marketplace continued, with the expected upturn in activity remaining elusive.
A spokesman for the firm confirmed that up to 29 jobs were ‘at risk’ in the M&A division of its corporate finance arm.
‘This is due to the current decline in activity in the marketplace,’ he said.Although four partners will be asked to leave the firm, the spokesman said the firm would try to find alternative positions for the 25 staff in other areas of the firm following a consultation period, though it was understood not all the staff would be retained.
Last year, E&Y’s corporate finance division brought in £156.6m to the firm.The job cuts follow news last week that KPMG was planning to axe 20 staff from its forensic accountancy department.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.