Deloitte Layoff 2023: More than 800 UK workers at risk, See details

Deloitte United Kingdom (UK), the largest of the Big Four audit firms globally, is planning to layoff some workers because of the slowdown in the second half of the current financial year. This layoff can affect 800 UK workers. What can UK workers expect? Is your job safe? 

Deloitte to cut over 800 jobs in the UK

Deloitte has planned to cut approximately 3 percent of its workforce, or more than 800 jobs, in the United Kingdom. According to a familiar source, the company has proposed targeted restructuring in the UK office in order to focus on cost-cutting.

Richard Houston, Senior Partner and Chief Executive Officer of both Deloitte North and South Europe (NSE) and Deloitte UK, said in a statement, “We announce some targeted restructuring across our businesses, which may subject to consultation put some roles at risk of redundancy.”

Who all are at risk?

Deloitte UK layoff can affect workers in consulting, financial advisory, and risk advisory roles. According to Bloomberg, Deloitte will also fire workers who willingly want to leave their jobs.

Deloitte UK chief executive Richard Houston said, “I understand this is an unsettling time for those people affected and we will be doing everything to support them.”

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Earlier this year, Deloitte announced its plan to cut around 1,200 jobs or 1.5% of its U.S. workforce.The London-headquartered audit firm, which reported an annual revenue of $59.3 billion last year, said it would fire employees at Deloitte’s Risk and Financial Advisory division. 

Big Four layoffs

In recent months, the Big Four of accounting firms, Deloitte, KPMG, EY and PricewaterhouseCoopers (PwC) laid off various employees. Large scale layoffs affected workers in these four companies globally.

Last week, Goldman Sachs Group, an American multinational investment bank and financial services company, said it would fire underperformers by October. Goldman Sachs already laid off 3,200 employees. 

Earlier this summer, Yellow Corporation laid off 30,000 workers. CVS Health laid off 5,000 workers in August. 

Recently, Cryptocurrency exchange Binance announced its plan to fire over 100 employees. Binance US Chief Executive Officer Brian Shroder already left his job. 

In July, Binance also announced its plan to layoff 3,000 employees. The company also stopped providing mobile-phone reimbursement to employees.