EY cuts 10% of its partners in the US – Kommersant

According to sources The Wall Street Journal (WSJ), auditing and consulting firm EY (formerly Ernst & Young) intends to reduce some of its partners and employees in the American branch. The cuts will reportedly affect about 10% of partners in consulting, about 4% in strategy and transaction/transaction teams, and an undisclosed number in audit and tax departments. As a result, the total number of cuts will be about 100 partners in the consulting divisions in the United States and more than 30 in the strategic and transactional divisions.

Experts believe that EY is forced to make cuts due to difficult macroeconomic conditions this year, as well as after the failure of a project to division the entire company for consulting and auditing business. EY is also making changes at the management level – in June it became knownthat CEO Carmine Di Sibio was behind the company’s division plan will leave his post next summer – a year before the expiration of his term of office. It was mid-November announcedthat Janet Trankale will be the new CEO of EY. She will become the first female CEO in the history of not only EY, but also the Big Four audit and consulting companies as a whole.

Evgeny Khvostik