The wave of layoffs grows: Deloitte will also begin layoffs

The wave of layoffs at global audit and consulting firms continues to grow. Finally, Deloitte, one of the top four accounting firms, announced that it will lay off hundreds of employees in the United States.

As a reflection of the current global economy, the wave of layoffs in the US is growing by the day. Rising costs and declining business have also affected large consulting firms.

Deloitte also announced it will start layoffs today, four days after Ernst & Young (EY) announced it would lay off approximately 3,000 US employees due to “overcapacity.”

DELIOTTE WILL PUT 1200 EMPLOYEES

Deloitte, one of the world’s leading accounting, auditing, tax and management consulting firms, announced that it will lay off approximately 1.5 percent of the workforce in the United States, or 1,200 people.

Layoffs at Deloitte were said to have been higher in areas such as financial consulting, which have been hit by slower M&A activity.

A Deloitte spokesperson said in a statement: “Our US businesses continue to experience strong client demand. “As growth in certain applications moderates, we are taking modest staffing steps as needed.”

LAUNCHES WERE BIGGEST AT EY AND KPMG

EY announced earlier this week that it would lay off 5 percent of its US employees, or 3,000 of its employees.

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.

KMPG announced in February that it would lay off 700 employees, about two percent of its employees in the United States and about 200 in Australia.

Carl Carande, KPMG’s vice president of consulting business, said in a statement about it that his decision was made “as the company needs to better align its workforce with current and expected demand in the market.”

On the other hand, the global consultancy McKinsey & Co reported in February that it plans to lay off some 2,000 people in one of the biggest layoffs.

TECH COMPANIES WERE LEARNING

While rising inflation and a potential recession caused concern, many tech companies, especially in the US, began deciding to lay off thousands of people or suspend new hires starting last year.

It should be noted that among these companies, leading companies in the technology sector such as Meta, Amazon, Microsoft and Google’s parent company, Alphabet.