By Scott Kanowsky
Investing.com -- Deloitte has told its staff that it will cut around 1,200 roles in the U.S., amounting to 1.5% of its workforce in the country, according to a report in the Financial Times on Friday.
The group's financial advisory unit will be impacted in particular, the paper reported, following a recent slowdown in mergers and acqusitions.
Citing employee comments on online forums, the FT said leaders of Deloitte's risk and financial advisory team revealed the job reductions in a staff call on Thursday.
In a statement published by the FT, a Deloitte spokesperson said that while the U.S. continues to see strong client demand, growth in "select practices" has moderated.
The cuts come after Deloitte and peers like EY and McKinsey saw their staff sizes increase during the pandemic as they built up the manpower needed to advise clients on transitioning to remote working and harness a surge in M&A activity. Last year, the FT said its headcount jumped to 80,000 from 65,000.