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Ernst & Young, After Its Failed Split, Could Find Itself Vulnerable to Staff Poaching
By Mark MaurerApril 19, 2023 5:30 am ET The botched split attempt, after more than a year of work on it, has raised questions over whether rivals will more aggressively seek Ernst & Young talent. Photo: MAJA SMIEJKOWSKA/REUTERSErnst & Young risks losing staff to competing firms after scrapping its plan to split into separate businesses and then announcing a round of layoffs, blemishes that rivals could say reflects a wounded firm. The Big Four accounting giant last week decided not to move ahead with plans to separate into one firm focused on consulting and another centered on auditing, after a revolt led by some U.S. partners and urged by a group of EY retirees. Then earlier this week, in a move the company said was unrelated to the split, EY announced it would cut about 3,000 U.S. employees, or less than 5% of its U.S. workforce. What's News Credit Suisse Details Painful Final Days Before Rescue 4 hours ago  Corporate Insiders Increase Stock Buying After Banking Turmoil1 hour ago  NBCUniversal CEO Jeff Shell to Depart 8 hours ago What's NewsCredit Suisse Details Painful Final Days Before Rescue 4 hours ago Corporate Insiders Increase Stock Buying After Banking Turmoil1 hour ago NBCUniversal CEO Jeff Shell to Depart 8 hours ago  Weight-Loss Drugmakers Lobby for Medicare Coverage1 hour ago  How to Spot Greenwashing—When Companies Aren’t as Green as They Claim1 hour ago  J&J Consumer-Health Unit’s Listing to Test IPO Market12 hours ago  Weapons Makers Can’t Hire Enough Workers as Ukraine War Drives Demand1 hour ago  TikTok Ban Divides Young and Old, WSJ Poll Finds1 hour ago  Florida Gov. Ron DeSantis Begins World Tour in Japan, Plays Down 2024 Bid3 hours ago Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8  Continue reading your article witha WSJ subscription Subscribe NowAlready a subscriber? Sign In Sponsored OffersAT&T: Get a $50 reward card using this AT&T promo codeWalmart: Walmart coupon - Up to 60% off stock-up essentials + an extra $10 offBest Buy: Deal of the Day! Claim as much as 50% Off - Best Buy CouponTurboTax: Save up to $15 with TurboTax coupon May 2023The Motley Fool: Epic Bundle - 3x Expert Stock RecommendationsH&R Block Tax: 15% Off DIY Online Tax Filing Services | H&R Block Coupon Code |
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