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Deloitte to cut business units to four from five: The Financial Times

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The revamp to cut its main business units from five to four comes after the big four firm decided against splitting up its audit and consulting businesses.

| Deloitte has launched the biggest overhaul of its global operations in a decade as the big four firm seeks to cut costs and reduce the organisation’s complexity in the face of an expected market slowdown.

In an email sent to Deloitte’s partners on Monday, Mr Ucuzoglu said the plan would reduce the firm’s “complexity” and “free up” more of them to work with clients rather than manage staff internally. Deloitte employs about 455,000 people globally. The move by Mr Ucuzoglu comes after he last year rejected the possibility of separating its audit and consulting businesses and publicly dismissed the logic of doing so. Rival EY spent more than a year trying to engineer a break-up of the firm before abandoning the attempt in April last year.

Deloitte’s consulting, financial advisory and risk advisory divisions will be brought into two newly created business units: strategy, risk and transactions; and technology and transformation.

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