“EY UK Plans Cost-Cutting Measures and Expects Staff Departures After Failed Global Business Split Attempt”

Ernst & Young (EY) UK has been warned to prepare for potential staff exits and cost cuts in the aftermath of the firm’s failed split. Earlier this year, EY UK announced that it would separate its audit and consulting businesses in response to growing regulatory scrutiny in the sector. However, the planned split was met with resistance from within EY UK, leading to its cancellation in September. Now, experts predict that the firm may face significant challenges in retaining talent and reducing costs following the failed split. This article explores the potential consequences of EY UK’s decision and its implications for the wider audit and consulting industry.


EY’s UK leadership has informed partners to prepare for a new cost-cutting plan and staff departures, following the failure of its attempt to divide the global business. Anna Anthony, UK managing partner for financial services, spoke to partners about “inefficiencies” within the business and the need to lower costs. She said these inefficiencies were “lessons learned” from the failed split and would be tackled as part of the UK firm’s plan for the financial year starting July. EY in the US has launched a $500m cost-saving programme after rejecting the split plan.


In conclusion, EY UK’s recent failure to split has sent ripples through the company, and staff departures and cost cuts are expected to follow. It remains to be seen how EY UK will handle this setback, but one thing is clear – the importance of careful planning and execution cannot be underestimated when it comes to major business decisions. Perhaps EY UK can learn from this experience and ensure that they take the necessary steps to avoid repeating similar mistakes in the future. Only time will tell.