Deloitte puts 100 jobs at risk as cost-cutting ramps up

Deloitte puts 100 jobs at risk as cost-cutting ramps up

Deloitte has put a further 100 roles at risk of redundancy in the UK as part of its attempt to cut costs.

The Big Four accountant has said the proposed job cuts will be made across the firm’s employee ranks, affecting roughly 5pc of Deloitte’s financial advisory business.

It comes as Deloitte battles a slump in dealmaking amid high interest rates.

A Deloitte spokesman said: “We are considering restructuring parts of our advisory corporate finance business.

“This is in order to concentrate on larger, sector-focused M&A activity. As a consequence, we are proposing to close some parts of that business.”

Employees are expected to be consulted about the redundancies in the coming weeks, with Deloitte claiming it will seek to find alternative roles for those affected.

It comes as professional services firms aim to drastically cut costs and row back on post-pandemic hiring as clients cancel projects and demand lower fees.

Deloitte in September announced plans to slash 800 across its UK consulting, financial advisory and risk advisory divisions.

Rivals PwC, EY and KPMG have also cut hundreds of jobs from their UK offices because of overstaffing concerns.

Deloitte, where partners on average are paid around £1m each, employs about 27,000 people in the UK.

A Deloitte spokesman added: “This will undoubtedly be an unsettling time for those affected and we will be doing everything we can to support them.”