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EY May Lay Off 100 as U.K. Financial Consulting Business Wilts

Nov. 25, 2019, 6:37 PM

Ernst and Young LLP may lay off up to 100 people in its U.K. financial services business after a drop in advisory revenue over the past year.

The move could include some associate, or salaried partners, but no equity partners, EY told Bloomberg Tax in a Nov. 25 statement. U.K. advisory revenue fell 3% in fiscal year 2019, it said.

  • Some of the 100 staff members would move to technology roles as EY integrates consulting and technology activities, EY said.
  • The firm’s move is the latest in a series of cost-cutting measures by the Big Four in the U.K., with...
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