EY Law, a division of the Big Four firm, has announced plans for a redundancy programme in the United Kingdom. According to indications from inside the company, 24 positions within its financial services legal advisory arm are under threat. This notable sector of the company’s operations accounts for between 8% and 10% of EY Law’s broader operation within the UK.
This development may seem contradictory to EY’s stated goals, which included more than tripling its size in the UK and Ireland by 2025. These announced cuts point to an ongoing struggle faced by major auditing firms endeavouring to establish themselves in the legal sector.
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