Ernst & Young will lay off 5 percent of its employees
Global audit and consulting firm Ernst & Young announced that it will lay off approximately 3,000 employees.
EY USA announced yesterday that it will lay off 5 percent of its employees, after abandoning its plan to separate the audit and consulting units.
CURRENT ECONOMIC CONDITIONS GIVEN AS JUSTICE
In the EY USA statement, it was indicated that the decision was made after evaluating the effects of current economic conditions, the high rate of not being able to distribute profits and the “overcapacity” observed in some parts of the company.
After months of trying to persuade partners, London-based EY has canceled its plan to separate its audit and consulting units to address concerns about potential conflicts of interest. (Reuters)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
