Big Four Accounting Firms Overhired. Now They’re Starting to Lay Off Partners.

null By Mark Maurer and Alexander SaeedyDec. 15, 2023 5:40 pm ETEY and other Big Four firms have laid off workers this year, after a hiring binge during the pandemic. Photo: Bing Guan/Bloomberg NewsAn Ernst & Young senior partner, during a call with some of the accounting firm’s U.S. partners and staff, delivered a sober message usually reserved for clients: It’s time to cut costs. “This has been a difficult week as we took needed action to address resource challenges in our business, where growth has notably slowed or where we have excess capacity,” said Dave Burg, EY’s head of Americas cybersecurity, in the webcast call on Thursday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8Sponsored OffersKohl's: Save 25% on everything with Kohl's couponTarget: Take 20% off Your Entire Order - Target promo CodeeBay: Unlock 10% Off orders With this eBay couponTurboTax: Up to $67 off online tax services with TurboTax discount codeThe Motley Fool: E

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Opinion Dec 15, 2023 Add to Reading List

Big Four Accounting Firms Overhired. Now They’re Starting to Lay Off Partners.

null

Mark Maurer

and

Alexander Saeedy

Dec. 15, 2023 5:40 pm ET

EY and other Big Four firms have laid off workers this year, after a hiring binge during the pandemic. Photo: Bing Guan/Bloomberg News

An Ernst & Young senior partner, during a call with some of the accounting firm’s U.S. partners and staff, delivered a sober message usually reserved for clients: It’s time to cut costs.

“This has been a difficult week as we took needed action to address resource challenges in our business, where growth has notably slowed or where we have excess capacity,” said Dave Burg, EY’s head of Americas cybersecurity, in the webcast call on Thursday.