Deloitte is planning to cut its spending on staff travel and expenses in the UK by over 50% due to challenging market conditions, suggesting a focus on temporary cost management.
The firm emphasized that the cost management measures are limited and temporary, aiming to maintain them only until the end of the financial year in May.
Deloitte's global consulting revenues are projected to grow by only 1.9% this year, a significant drop from last year’s 19.1%, indicating a slowdown in demand.
The company is reviewing not just travel expenses but also recruitment agency costs and other expenditures, highlighting a broader effort to tighten operational costs amid declining revenues.
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