EY trims global workforce  taking cues from weak global demand!!

EY trims global workforce - taking cues from weak global demand!!

Slowdown in demand for consulting services leads Big Four accounting firm to post weakest revenue growth since 2010

EY slims workforce for first time in 14 years

EY trims workforce after 14 years.

Associate director

EY trims workforce after 14 years.- Grapevine

Big layoff coming in EY GDS. People on bench has been hinted in today's townhall. 
Lot of people are on bench in EY GDS for many many months. Till December they were telling EY is recession proof, now all of sudden that only people on engagements need not to be worried.

Layoff at EY GDS

Analyst

Roughly 2.5% of the workforce. Are there any details on teams and geographies impacted?

Accenture to Layoff 19k employees

Senior Manager

Are the fellow EY employees also feeling the same that since the last 6 months, the work culture has deteoriated to a very low extent & many people are even talking in office about layoffs to begin soon. Share your thoughts if you are also feeling the same.

EY GDS work culture

External Audit

Welcome to Software Engineers's Private Community

Week back there were posts by linkedin engineers that linkedin is hiring SDEs and anyone can as referral and today they laid off 700 people.

Like whats happening man!!! Is the company dumb or what?

LinkedIn Layoffs India

(1) Reduce cost of human capital -> (2) Post better EBITDA numbers in earnings calls -> (3) Get big bonuses and sell your equity if its value is rising -> (4) Hire a lot of people again so that you can repeat this cycle again to profit

Software Developer

Software Engineer

https://m-economictimes-com.cdn.ampproject.org/v/s/m.economictimes.com/tech/technology/accenture-to-cut-19000-jobs-trims-forecasts/amp_articleshow/98943110.cms?amp_js_v=0.1#webview=1&cap=swipe

Accenture Layoff

Business Development Manager

Welcome to Indian Startups's Private Community

I mean I get the layoff predicament, but wtf is this news headline?

Layoff to "Achieve Profitability"

Generalist

International Business News: IT services firm Accenture Plc on Thursday said it would cut about 19,000 jobs and lowered its annual revenue and profit projections as mass firings a

Accenture to cut 19,000 jobs, trims forecasts - Times of India

Accenture to layoff 19000 employees - over next 18 months

Backend Engineer

I am currently working in Deloitte USI. Here I need to work for 13-14 hours everyday minimum. I have received an offer from EY around 35% hike. I’ve heard that the work culture of EY is even worse. But anyhow if I have to work for 13-14 hours a day, the why not for a better salary? Can you all please advise?

Career Advise Required

Consultant

Is EY GDS in India, in Strategic and Transactions vertical considering to layoff people ? 
And also what is criteria for a company to lay you off ?

Layoffs ?

Welcome to Business Roles's Private Community

First MBB reduced bonus. Now EY is laying off US partners. Is something up with consulting in general?

Deals are not happening as it used to. Macros uncertainty is keeping clients on budget tightening. The pre-sales consultants are having hard time to convince the clients

During my recent post interview interaction with EY HR, I had a horrible experience!
They’re insanely inhuman and disinterested in your concerns.
All they want is to close position and fulfil business needs!
However the role and my experience interviewing with the panel from business was very nice.
Now I’m on fence, whether to join or not 🫤
Suggestions?

EY India experience

Rumor mill is fired up since a week and all meetings with senior leadership this week have been removed from calendars without any notice! Also noticed that several leaders are WFH today. Guessing that is to avoid nervous conversations and to engage in private meetings over phone calls to decide which heads they are going to chop off. 
The 🔔are going off! Prepare yourselves!

Wayfair Likely Doing a Mass Layoff Tomorrow

Welcome to IT Company Discussion's Private Community

Is it true regarding EY India that employees work under too much stress that sometimes they get into serious health issues or passes away?

Tech Lead

Welcome to Office Gossip's Private Community

I have been working at EY for the past 3 years (joined after the pandemic) and there's been suddenly a shift in their policies. 

Last FY has been really slow for the company and now they're doing all in their power to make people leave the company. 

For example, compliance about things which no one was bothered a single bit in the past 2 years has suddenly become an issue at every possible level. Be it to being in office twice a week or even missing to fill out your timesheets. There have been no replacements for everyone who's left the company in the last 6 months.

At the start it seemed like they valued talent but all rules and ethics seem to be thrown out of the room this year. Attrition is the mantra. 

With the upcoming appraisal season there are minimalistic hopes from the company. And all of the above seems like an effort to have excuses for poor ratings.

All of this seems like a tactic to make you quit yourself before they start firing ! 

I plan to leave this place ASAP

EY GDS Gurgaon

Data Scientist

Many companies laying off employees while they're hiring parallely, if you know any such companies please share there name....so we don't end up joining such confusing workplace......

Hiring and firing parallely

In Zomato and Blinkit they putting pressure on employees based out of Bangalore office to either relocate to Gurgaon office or creating situation where they end up resigning

Strategy & Operations

Current recession giving ‘08 vibes to consulting companies in India:

- Accenture Strategy considering layoffs
- Deloitte (Consulting) considering layoffs 
- Mckinsey - already have done non-consulting layoffs
- MBB - expected to push out joining dates for new hires by at least ~6 months (most likely new joiners who were expecting to join in July-Aug 23’ to join only starting Jan 24’)

Slow pace of new projects, ramp down of existing big clients, massively over hiring in 2022 (key reason) has led to most people being on the bench.

Wouldn’t be surprised if the ‘Up or Out’ model comes into action more aggressively for the upcoming appraisal review cycle(s).

Brace for impact!

(all unconfirmed, heard through ‘grapevine’)

EY trims workforce after 14 years.

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