Finance
EY Australia to consider 'targeted restructuring' as difficult operating conditions persist
Published by Global Banking & Finance Review®
Posted on February 26, 2025
2 min readLast updated: January 25, 2026
Home > Finance > EY Australia to consider 'targeted restructuring' as difficult operating conditions persist
Quick Summary
EY Australia plans job cuts and restructuring due to challenging market conditions, affecting its technology consulting arm.
EY Australia Considers Job Cuts Amid Ongoing Market Challenges
(Reuters) - EY Australia is considering cutting jobs as part of "workforce adjustments" to reflect challenging market conditions, with some targeted restructuring possible for "particular circumstances" in the near term, the accounting major said on Wednesday.
In an emailed response to Reuters, a spokesperson for EY Australia said the firm "started this year expecting a market rebound and sustained growth through FY25 for the parts of our business that have experienced this challenging environment" but added that expectations had not aligned with actual demand in these areas.
Based on current demand, the spokesperson said targeted restructuring may be required in some particular circumstances, but did not immediately specify an exact number of job cuts.
The Australian and Australian Financial Review reported earlier in the day that around 100 roles will be cut in the firm's technology consulting arm, with the cuts affecting up to 1% of the workforce.
EY Australia, like its other peers, has found operating conditions to be unfavourable ever since PricewaterhouseCoopers (PwC) Australia came under fire in mid-2023 over a tax leaks scandal, drumming up more such cases of accounting irregularities with other global firms.
(Reporting by Shivangi Lahiri in Bengaluru; Editing by Janane Venkatraman)
Key Takeaways
- •EY Australia is considering job cuts due to market challenges.
- •Targeted restructuring may occur in specific circumstances.
- •Around 100 roles may be cut in the technology consulting arm.
- •The cuts could affect up to 1% of the workforce.
- •Market conditions have been unfavorable since mid-2023.
Frequently Asked Questions about EY Australia to consider 'targeted restructuring' as difficult operating conditions persist
1What is EY Australia considering due to market conditions?
EY Australia is considering cutting jobs as part of 'workforce adjustments' to reflect challenging market conditions.
2How many roles are expected to be cut in EY Australia's technology consulting arm?
Reports indicate that around 100 roles will be cut in the firm's technology consulting arm, affecting up to 1% of the workforce.
3What did EY Australia initially expect for the market this year?
The firm started the year expecting a market rebound and sustained growth through FY25 for parts of its business.
4What has influenced the unfavorable operating conditions for EY Australia?
EY Australia has faced unfavorable operating conditions since PricewaterhouseCoopers (PwC) Australia was involved in a tax leaks scandal in mid-2023.
5Will EY Australia specify the number of job cuts immediately?
The spokesperson did not immediately specify an exact number of job cuts, indicating that targeted restructuring may be required in some circumstances.
