Consulting firm EY makes 148 positions redundant amid industry downturn

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EY,Consulting Firm,Job Cuts

Consulting firm EY has announced 148 job cuts as the consulting sector faces a sustained downturn. The firm cites the PwC tax leaks scandal as a trigger for the redundancies, which amount to about 1% of the local workforce.

Consulting firm EY has made 148 positions redundant, telling staff on Tuesday they have a week to find a new role within the firm or leave as the professional services’ downturn deepens.

The redundancies are the latest in a spate of job cuts to hit the consulting sector, which is confronting what industry insiders say is the longest and most sustained downturn in recent memory. The redundancies are mostly across consulting and financial services, areas Mr Larocca said, “have been particularly affected by the continued downturn in demand”.At the time, Mr Larocca said he hoped consulting demand would return by the middle of 2024.

Mr Larocca said EY was “offering all the support we can” to the workers made redundant. “We thank them for their valuable contribution to the business and wish them the best for the next step in their career”.Career management consultants Directioneering were available to staff from Tuesday afternoon.

 

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