Ernst & Young had to cut around 3,000 jobs in US

EY is set to axe 3,000 jobs from its US workforce due to "overcapacity" at the company, following the cancellation of its audit and advisory split. The financial services firm had initially intended to separate the two units before reversing the decision in a bid to integrate operations. The redundancies come as EY records a net revenue of £34bn ($45bn), despite the ongoing economic fallout from the coronavirus pandemic. EY has stated that the cuts are not related to COVID-19 considerations. Similar measures have been taken by other consulting firms, including Accenture, which has recently cut 19,000 jobs, and KPMG and McKinsey, which have also announced job cuts in recent weeks

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