EY's decision to delay the start dates for around 200 new hires has been driven by a challenging M&A environment and the need to align with business demands. This reflects broader issues in the consulting industry, where firms are scaling back due to a notable slowdown.
The firm confirmed that the deferrals, affecting new joiners due in November or January, will allow recruits to experience a greater quality and breadth of assignments. This strategy is intended to ensure a successful career start for the hires.
In addition to delaying start dates, EY is also reducing the availability of internships and has enacted pay cuts of approximately 2% for some US partners, indicating the depth of the consulting sector's struggles.
While EY has made these adjustments, it is not alone in facing challenges. Other Big Four firms, including Deloitte, PwC, and KPMG, are experiencing similar slowdowns in demand for consultancy services, underscoring a collective industry trend.
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