Deloitte UK Cuts Partner Promotions by 25% in a Slowing Market

Deloitte UK has slashed promotions to partner by a quarter over last year after announcing weaker results in a cooling market.

The Big Four accounting, tax, and consulting firm said Monday that it was promoting 60 people to partner, down from 81 last year. The move comes after it cut jobs last year as revenue growth stalled in a slowing consulting market.

• “Our partnership remains critical to our firm’s culture and success in the market,” Richard Houston, Deloitte UK senior partner and CEO, said in a statement. “Alongside our annual partner promotions, we have significantly increased the number of equity ...