Deloitte is the latest Big Four firm in the U.S. to cut jobs as a result of work drying up in some areas of advisory and consulting services.

Deloitte will be laying off 3% of its employees in risk and financial advisory, RFA employees were told during an all-hands meeting on April 20, according to published reports. Overall, the firm will be letting go of roughly 1,200 employees, or 1.5% of its 80,000-person workforce, between now and June.

“Our U.S. businesses continue to experience strong client demand,” Jonathan Gandal, a Deloitte managing director, told Bloomberg in a statement. “As growth in select practices moderates, we are taking modest personnel actions where necessary.”

Thanks for reading CPA Practice Advisor!

Subscribe for free to get personalized daily content, newsletters, continuing education, podcasts, whitepapers and more...

Already registered? Login

Need more information? Read the FAQ's

The Financial Times reported that the RFA practice at Deloitte has been impacted by a slump in merger and acquisition activity.

Last week EY announced it was laying off 3,000 U.S. employees, or about 5% of its 54,000-person workforce, with the job cuts primarily occurring within its consulting, strategy and transactions, people advisory services, and core business services areas. And in mid-February, KPMG said it was laying off 5% of its advisory practice—roughly 700 people—which is approximately 2% of the firm’s total U.S. workforce. KPMG employs about 40,000 professionals in the U.S.