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Deloitte to cut over 800 jobs in the UK in cost-cutting restructure

By Nithya Bose in UK Business News, posted September 14, 2023

Accounting giant Deloitte is reportedly planning to cut more than 800 jobs in the UK.

The move is part of a cost-cutting restructuring effort.

Although Deloitte has confirmed that some roles may be at risk, it didn’t disclose the details.

The proposed job cuts would equate to a three percent reduction in Deloitte's UK workforce.

Sources said the company currently has 27,000 employees.

Deloitte CEO Richard Houston said: "Today we announced some targeted restructuring across our businesses, which may - subject to consultation - put some roles at risk of redundancy.

"This follows a slowdown in growth, which, combined with the ongoing economic uncertainty, means we have to consider the shape of our business and may mean we have to make some difficult decisions."

He added: "I fully understand this is an unsettling time for those people affected and we will be doing everything we can to support individuals with care and respect."

This move follows Deloitte’s 1,200 US layoffs in April.

Other 'big four' firms, including KPMG, EY, and PwC, have also slashed their workforce in response to economic challenges.

Businesses are grappling with uncertainty amid concerns about the UK's economic outlook.

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It includes high inflation, rising interest rates, and sluggish growth.

A recent poll of 400 recruitment agencies reported a 43 percent decline in permanent hires in July.

It marks the sharpest drop in recruits in three years.

KPMG and the Recruitment and Employment Confederation conducted the research and noted frequent reports of redundancies and hiring freezes across many companies.

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