Big Four Reshape Consulting Workforce, Strategy With Rare Layoffs

The Big Four accounting firms have leaned into their tech advisory work and data analytics services—areas ripe for revenue growth—as interest rates and the artificial intelligence boom reshaped demand for consulting services.

But the pivot hasn’t been without pain as demand for lucrative deals advisory work dried up last year. The firms collectively shed thousands of jobs in 2023—mostly consultants based in the US and UK—realigning their workforces to areas with higher demand.

“It’s a repositioning,” said Mark Masson, managing partner and head of professional services advisory at Lotis Blue Consulting, of the steady stream of layoff announcements. “Let’s pull ...