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The move comes ahead of a looming deadline for federal agencies to submit workforce restructuring plans to the U.S. Office of Personnel Management (OPM).
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This restructuring is a key component of the company’s “Fit for Growth” programme. CEO Tobias Meyer emphasized that the cuts will occur through natural attrition rather than forced layoffs.
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While The Walt Disney Company plans to cut hundreds of jobs, Wells Fargo and Renault Nissan are set to lay off thousands collectively.
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Beyond this round of job cuts, the firm’s long-term workforce strategy is expected to be shaped by advancements in artificial intelligence and automation. Goldman Sachs recently introduced an AI-powered assistant for bankers, signaling a broader shift toward technology-driven efficiencies.
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While the company has not disclosed the exact number of job cuts, it clarified that workers involved in car production would not be affected. The announcement comes after Mercedes-Benz reported a sharp downturn in its financial performance.
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Whether in tech, food, or other industries, mass layoffs continue as companies restructure, adapt to market shifts, or embrace AI. The latest to join the list: Meta, HP, and Grubhub.
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EY's downsizing highlights the vulnerability of consulting firms in the face of economic headwinds and industry-wide disruptions.
