Jakarta –
The world’s largest public accounting firm, Deloitte, will carry out layoffs (layoff) around 1,200 employees or 1.5% of the total workforce in the United States (US).
“Our US businesses continue to experience strong demand. As growth in certain practices slows, we take simple action where necessary,” Deloitte said in a statement to the Financial Times, Saturday (22/4/2023).
A number of financial firms have made layoffs in recent months, including major Wall Street banks, asset managers and even fintechs. The employee cuts were made as a result of the turbulent macroeconomic conditions that reduced business demand.
Deloitte is part of the Big Four accounting firms, including EY, KPMG, and PricewaterhouseCoopers (PwC).
In the aftermath of the COVID-19 pandemic Deloitte made a large hiring spree at a time when the company was growing fast. The number of Deloitte employees in the US will swell from 65,000 in 2021 to 80,000 in 2022.
While parts of the consulting industry are still growing strongly, others are experiencing contraction. In this month’s William Blair & Company investment banking specialty survey, only a third of M&A advisers reported quarter-over-quarter growth.
(aid/hns)
