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## Ernst & Young Announces Deeper Round of Partner Cuts in Response to Slowing Demand for Services

### Updated Dec. 12, 2023 2:30 pm ET

Ernst & Young has made the decision to lay off dozens of partners across all U.S. businesses, marking a deeper round of partner cuts than usual for the Big Four accounting firm. The move comes as the firm faces slowing demand for certain services and aims to reduce costs following its failed plan to break up the firm.

The cuts primarily impact the advisory side of the U.S. operation, with over 10% of partners in consulting and approximately 4% in strategy and transactions being affected. However, the audit and tax arms are also touched by the layoffs. An estimated more than 100 partners in consulting and over 30 partners in strategy and transactions at both junior and senior levels are expected to be impacted.

This significant reduction in the partner workforce at Ernst & Young raises questions about the challenges and complexities of the process, particularly from a legal perspective. AI legalese decoder can help navigate the intricate legal aspects, including employment regulations, severance packages, and potential litigation that could arise from the layoffs. By using AI legalese decoder, Ernst & Young can ensure compliance with labor laws, mitigate legal risks, and streamline the partner cut process with greater efficiency and accuracy.

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