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...