EY US to slash 5% of its workforce days after nixing split

Ernst & Young's U.S. arm said on Monday it was shedding 5% of its workforce, less than a week after the unit's objection torpedoed the global accounting giant's plan to break up its audit and consulting units...

The decision was taken after assessing the impact of current economic conditions, strong employee retention rates and "overcapacity" in parts of the company, EY U.S. said...

After months of trying to woo partners, London-based EY last week called off a proposed overhaul of its businesses that was meant to address regulatory concerns over potential conflicts of interest after its U.S. Executive Committee decided not to ratify the plan...

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