EY cutting 148 jobs

Major consulting firm EY has made another round of redundancies, cutting 148 roles from its Oceania financial services and consulting business.

Citing a downturn in demand for professional services, EY has made 148 staff redundant after informing the Oceania workforce this morning.

It comes after EY shaved 232 roles in November, which was reportedly about 2 per cent of its Oceania workforce of 10,700.

In the span of six months, PwC reduced its headcount by more than 600 employees, adding to the fallout of the tax leaks scandal.

Big four firm Deloitte recently confirmed redundancies across its national offices, and KPMG cut staff throughout 2023.

In a statement, EY Oceania chief executive David Larocca said they communicated the “difficult decision” this morning.

“These redundancies are mainly across consulting and financial services, areas of our business that have been particularly affected by the continued downturn in demand,” he said.

“We are offering all the support we can to the people who are leaving the business, including with Directioneering support and assistance. We thank them for their valuable contribution to our business and wish them the best for the next step in their careers.

Mr Larocca said the decision would in no way impact their focus on building a safe and inclusive workplace.

“We remain absolutely committed to delivering on all the recommendations of the Elizabeth Broderick & Co. report, and to investing in our culture transformation,” he said.