Around 100 jobs at risk at Big Four accountancy firm Deloitte

Around 100 jobs have been put at risk at Big Four UK accountancy firm Deloitte, as the firm looks to cut costs after a slowdown in deal activity.
Michael Crossland
By Michael Crossland
Published 8th Feb 2024, 16:45 BST

The news comes on top of Deloitte’s announcement in September of last year that it would make around 800 redundancies, a figure it later lowered to 700.

A spokesperson for Deloitte UK said: “We are considering restructuring parts of our advisory corporate finance business. This is in order to concentrate on larger, sector-focused M&A activity. As a consequence, we are proposing to close some parts of that business.

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“We will consult on this with people in these teams over the coming weeks. This will undoubtedly be an unsettling time for those affected and we will be doing everything we can to support them.”

Around 100 jobs have been put at risk at big four UK accountancy firm Deloitte, as the firm looks to cut costs after a slowdown in deal activity. Photo: Yui Mok/PA WireAround 100 jobs have been put at risk at big four UK accountancy firm Deloitte, as the firm looks to cut costs after a slowdown in deal activity. Photo: Yui Mok/PA Wire
Around 100 jobs have been put at risk at big four UK accountancy firm Deloitte, as the firm looks to cut costs after a slowdown in deal activity. Photo: Yui Mok/PA Wire

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Jobs across all pay grades within Deloitte are thought to be at risk as part of the latest round of cuts, which could affect approximately 5 per cent of the firm’s UK Financial Advisory business and less than 0.5 per cent of its overall UK workforce.

The news comes as high interest rates and a slowdown of economic activity continue to drive a slump in dealmaking, which has led to less demand for some of Deloitte's services.

Doloitte’s rival firms, including KPMG and EY, have also announced job cuts over the last 12 months.

In October of 2023, KPMG said it planned to cut around 110 employees and freeze pay in its deals division.

EY also confirmed in April that it was considering a similar number of cuts.

Related topics:DeloitteJobsKPMG

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