An EY spokesperson stated, 'EY regularly reviews the resourcing needs of the business. Regrettably, proposals put forward in part of the UK consulting practice may result in a reduction of 150 roles.' This highlights how the company is adapting to changing demands in advisory services as it faces a decline in headcount and revenue.
Benoit Laclau, the managing partner of EY's consulting business, is stepping down after nearly five years; despite the layoffs, he will continue to 'serve some of EY's largest clients and lead the firm's technology-driven pursuits in the UK.' His departure indicates leadership shifts amidst restructuring efforts.
The NY Times mentioned, 'At the same time as the cuts, Benoit Laclau is stepping down', suggesting notable changes in leadership coinciding with the workforce reduction, which reflects ongoing challenges within the company around declining demand for professional services.
According to EY's annual report from October, their headcount fell by 2,450, marking a 14-year low, as the consulting and strategy sector experienced a significant revenue drop. This data underscores the reflection of weakening demand in the consultancy market.
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