Accountancy firm EY is cutting 3,000 jobs worldwide, citing “overcapacity” in parts of the company.
The job losses in the US come days after the firm called off plans to break up its auditing and consulting divisions.
EY said the decision was unrelated to that review. It said the redundancies were “part of the ongoing management of the business”.
EY Aberdeen workforce
EY, formerly known as Ernst & Young, occupies the fourth floor of 2MSq in the city’s Marischal Square development.
The company has around 170 staff based in Aberdeen.
The city workers and the rest of the accountancy giant’s UK workforce has been reassured that the reduction in staff will only apply in America.
Responding to the job cuts, an EY spokesperson said: “The announcement is specific to EY in the US.
“There are no similar plans in the UK.”
EY US job cuts
The cuts affect about 5% of its US workforce. The move comes as corporate America is bracing for an economic downturn.
EY said: “After assessing the impact of current economic conditions, strong employee retention rates and overcapacity in parts of our firm, we have made the difficult business decision to separate approximately 3,000 US employees.
“We have approached this decision, with the utmost care, respect and consideration. EY will offer comprehensive support to those who are affected.
“To be clear, these actions are part of the ongoing management of our business and not a result of the recently concluded strategic review, known as Project Everest.
“We remain focused on our people, delivering innovative and forward-thinking approaches to our clients, and an industry-leading commitment to quality.”
EY announced record revenues of £3.2 billion in the UK last year.
Derek Leith will step down from his job as head of office for EY in Aberdeen at the end of June.
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