Deloitte announces layoffs; to cut 150 consulting jobs

In a move mirroring KPMG, Deloitte UK is set to eliminate roughly 150 junior consulting positions across two of its consulting teams. This decision comes even as the firm's partners earned an average of over £1 million annually in the previous year.

These cutbacks are part of a larger round of 800 job reductions that the Big Four firm announced in September.

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According to a report by the Financial Times, junior analysts in the firm's consultancy and advisory divisions, especially those in their first and second years, will be the most affected by these layoffs.

The declining demand in the market has led to a reduction in job openings for junior positions. According to senior partners, "We are taking the approach of proposing redundancies at the [first- and second-year graduate] level."

KPMG Layoff

This development follows KPMG's announcement that it would cut 110 positions in its UK deals business, in addition to an earlier announcement of 125 redundancies in its consulting business.