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Deloitte UK plans to layoff more than 3% of its positions as demand slows
Livemint
·
1y ago
Medial
Deloitte plans to layoff more than 800 positions in the UK, equivalent to about 3% of its workforce of 27,000 in the country, in response to a slowdown in demand and an easing in the pace of workers choosing to leave Deloitte, one of the Big Four accounting firms, is reportedly planning targeted restructuring that may lead to job cuts. This comes amid economic uncertainty and a decrease in open roles. Ernst & Young recently announced layoffs in its UK financial services consulting division, while PricewaterhouseCoopers has reduced pay hikes and bonuses for some UK employees.
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McKinsey to cut 360 jobs as client demand slows down, these roles to be affected
Livemint
·
1y ago
Medial
Global consulting firm McKinsey & Co. is planning to cut around 360 jobs worldwide, which would affect 3% of its specialist and technically-skilled workforce. The job cuts will impact various divisions, including design, data engineering, cloud, and software, as McKinsey adjusts its capabilities to align with client priorities. This move comes as the consulting industry faces a slowdown in demand, leading to job cuts by other firms as well. Despite generating record revenue last year, McKinsey has recently warned consultants about performance improvements and offered exit options to UK-based employees.
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Intel cuts over 500 jobs in Oregon as part of layoff plan - The Economic Times
Economic Times
·
1m ago
Medial
Intel is set to cut over 500 jobs in Oregon as part of a broader layoff plan, aiming to reduce around 20% of its workforce. The job cuts will affect facilities in Aloha and Hillsboro, eliminating 529 positions permanently. This move follows a recent layoff in California, where 107 employees were let go. The effort seeks to streamline operations under new CEO Lip-Bu Tan, aiming for a leaner and more efficient company.
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Deloitte plans restructure to cut costs, may cut down biz units, says report
Livemint
·
1y ago
Medial
Deloitte is restructuring its business divisions to lower expenses and prepare for a market slowdown. The firm plans to streamline its five primary divisions into four, including audit and assurance, strategy, risk and transactions, technology and transformation, and tax and legal units. This move comes as demand for consulting services from the Big Four accounting firms, including Deloitte, has declined due to the COVID-19 pandemic and the resulting economic uncertainty. Deloitte is also introducing a practice to help businesses measure and improve stakeholder trust, recognizing its impact on market capitalization.
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Gautam Adani's Adani Ports confirms Deloitte resignation; appoints MSKA & Associates
IndianStartupNews
·
1y ago
Medial
Gautam Adani-led Adani Ports & Special Economic Zone Ltd. (APSEZ) has confirmed the resignation of UK-based accounting giant Deloitte and has announced the appointment of MKSA & Associates as its new statutory auditor.
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upGrad picks ex-Whitehat Jr exec Ankur Nyati for study abroad
YourStory
·
1y ago
Medial
Edtech firm upGrad has appointed Ankur Nyati as the president of its study abroad segment, replacing Ankur Dhawan who served the position for more than three years. Nyati comes with more than two decades of experience in the education and retail fields, having held leadership positions at Unilever, ITC, Flipkart, and Ola, among others.
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The investment firm that keeps raising giant climate funds
Livemint
·
1y ago
Medial
Brookfield Asset Management, the largest clean-energy investor in private markets, aims to raise over $25 billion for two new private funds targeting clean energy. It has already received $10 billion for its latest energy transition fund and plans to continue fundraising. The investment giant has deployed more than $100 billion across its funds for renewable-power and energy-transition investments. The demand for green power, driven by cities, companies, and climate regulations, is on the rise. Brookfield's funds will support projects like wind farms in the UK and solar development in India.
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Nazara expands M&A war chest; to buy Smaaash, UK gaming studio
VCCircle
·
1y ago
Medial
Mumbai-based gaming and sports media company, Nazara Technologies, has announced plans to increase its budget for mergers and acquisitions in order to expand its global presence. Initially allocating $100 million for M&As, Nazara will now spend more than planned as it aims to build its position in the global market. The company has already acquired Smaaash, a leading entertainment and gaming company in India, and a UK-based gaming studio.
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HCLTech appoints Bhavani Balasubramanian as Independent Director
IndianStartupNews
·
1y ago
Medial
Indian technology company HCLTech has appointed Bhavani Balasubramanian as an Independent Director. Bhavani, a qualified Chartered Accountant, brings over four decades of experience in auditing and has held several leadership positions at Deloitte. She will serve on the Audit and Risk Management Committees of HCLTech. The company's leadership is confident that Bhavani's expertise will enhance their corporate governance standards.
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GM lays off over 1,000 salaried software, services employees
Economic Times
·
11m ago
Medial
General Motors (GM) is cutting over 1,000 salaried jobs at its software and service units globally. The layoff decision aligns with the company's strategy to streamline operations and focus on key investments. Around 600 positions will be eliminated at GM's tech campus near Detroit. The move reflects the company's commitment to simplifying operations and making strategic choices in a rapidly changing automotive industry.
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Microsoft Cuts 305 Jobs at Washington HQ Weeks After 6,000 Layoffs Targeting Engineering and Legal Roles | DeepNewz Business
Business Bytes
·
2m ago
Medial
Microsoft recently announced an additional 305 job cuts at its Washington headquarters, following an earlier layoff of 6,000 employees. The latest layoffs primarily impact employees in legal, marketing, and engineering positions. These cuts are part of Microsoft's ongoing efforts to align its workforce and business strategies to adapt to changing market demands. Meanwhile, Del Frisco’s Grille in Philadelphia will close, laying off 51 employees between late July and early August 2025.
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