E
Y is about to chop jobs within the UK and has informed workers to count on much less beneficiant pay rises because it seeks to chop prices.
The accounting big has confirmed the spherical of redundancies will impression workers at its monetary companies consulting arm amid strain on market demand.
EY will axe greater than 5% of the roughly 2,300-strong follow, with 150 jobs attributable to be impacted which advise on enterprise transformation and danger administration, in line with the Financial Times.
It comes after the agency stated in April it deliberate to chop 3,000 jobs within the US, because it blamed “overcapacity” on the agency.
Workers are additionally anticipated to obtain smaller pay rises and bonus swimming pools for the yr.
EY’s UK monetary companies consulting follow has taken measures to align present resourcing necessities with market demand
Meanwhile, companions, who personal and run the enterprise, will probably be paid out of earnings for the yr.
Last yr, the typical accomplice at EY obtained a file £803,000 in pay after surging demand for the agency’s companies.
A spokeswoman for EY stated: “EY continues to perform strongly, with double digit growth in the UK, and the vast majority of our people will receive an annual pay rise and variable bonus payment this year.
“EY’s UK financial services consulting practice has taken measures to align current resourcing requirements with market demand.
“Regrettably, a group of employees in this part of the business are now subject to a redundancy consultation process.”
