EY To Fire 380 Workers, Cut 40 Partners To Improve Profitability
The management board of EY Germany has decided to make “various structural changes subject to co-determination,” the company said.
EY Germany has announced plans to make “various structural changes” in response to its failure to detect fraud at Wirecard AG, resulting in a loss of several mandates and shaken confidence in the auditor. The changes will involve job cuts and the reduction of non-personnel costs. EY Germany plans to cut 40 partners and fire 380 staff to improve profitability. The company has begun talks with relevant worker representatives and hopes to implement voluntary solutions under mutual understanding. EY Germany stated that the planned measures are intended to put the company in the most vital possible position for future success.
The article is “EY To Fire 380 Workers, Cut 40 Partners To Improve Profitability: Report.“