Big 4 Firms Lay Off Hundreds of Staff Amid Looming Economic Downturn

‘We are in a challenging and uncertain environment,’ said EY Australia Managing Partner David Larocca.
Big 4 Firms Lay Off Hundreds of Staff Amid Looming Economic Downturn
A combination of file pictures shows logos of Price Waterhouse Coopers, Deloitte, KPMG and Ernst & Young. Reuters/File Photos
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The big four consulting firms have announced considerable layoffs as the slowdown in the economy begins to impact the jobs market.

Professional services firm Ernst & Young (EY) recently made 232 employees redundant following a cut of 338 jobs by rival firm PricewaterhouseCoopers (PwC). The latter’s decision was spurred by longtime client Westpac’s announcement that it would not renew its auditing contract with the firm.