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Big Four Accounting Firms Pare Their Consultant Ranks in Postpandemic Reversal

The Big Four accounting firms are cutting their consulting ranks due to slower growth and lower attrition than expected. KPMG, Deloitte, and EY have made layoffs, and exits at the firms have dropped despite the cuts.

1 min read
  • The Big Four accounting firms are cutting their consulting ranks due to slower growth and lower attrition than expected.
  • KPMG laid off 5% of its U.S. staff in June, while Deloitte and EY also made cuts.
  • Exits at the Big Four firms have dropped 11.6% through June, despite layoffs.
  • Consulting firms are facing changing client demand and a slowdown in mergers and acquisitions activity.
  • Consulting in the U.S. is expected to experience lower growth through 2025.
Big Four Accounting Firms Pare Their Consultant Ranks in Postpandemic Reversal
Professional-services giants are facing the consequences of aggressive hiring over the past two years, coupled with less attrition than they expected
WSJMark Maurer

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