While EY remains committed to providing legal services in key areas, the restructuring signals a broader shift in how consulting firms integrate legal expertise into their business models.
The sports car manufacturer had already taken steps to reduce its workforce last year by not renewing temporary contracts. However, worsening market conditions have forced deeper cuts.
The latest round of job reductions follows ongoing cuts in HSBC’s markets division and will be executed in stages, with the first phase beginning as early as February 17.
As AI becomes more embedded in daily workflows, Microsoft’s researchers caution that long-term reliance could reduce workers’ ability to engage deeply with tasks. The risk is especially high in repetitive processes where users delegate thinking to AI without questioning outputs.
McKinsey’s global managing partner, Bob Sternfels, reassured employees last week that the firm’s commitment to diversity remains unchanged. In an internal email described to The Australian Financial Review, Sternfels emphasized that McKinsey continues to believe in the value of diversity.