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\t\tEYs points finger at the former head of EY UAE\t<\/p>\n
The UK\u2019s Big Four accountancy firms<\/a> are cutting hundreds of jobs and pulling back sharply on graduate recruitment, as artificial intelligence (AI) begins replacing the junior roles once filled by school and university graduates.<\/p>\n Deloitte, EY, KMPG and PwC \u2013 which cumulatively employ around 100,000 people across the UK \u2013 have all stripped back early-career hiring over the last two years, slashing intake by as much as 29 per cent, in some cases.<\/p>\n KPMG has made the steepest cuts, trimming its 2023 graduate intakes from 1,399 to just 942.<\/p>\n Deloitte reduced its own scheme by 18 per cent, while EY and PwC followed with 11 per cent and six per cent cuts respectively.<\/p>\n Cost-cutting AI expansion<\/p>\n The job cuts come as firms look to preserve seven-figure partner payouts amid a post-Covid consulting slump, and shrinking client budgets.<\/p>\n Generative AI tools like ChatGPT are increasingly being used to automate administrative tasks<\/a> usually performed by entry-level employees \u2013 accelerating the shift.<\/p>\n \u201cThe Big Four are looking at AI very seriously to replicate junior work more cost-effectively\u201d, said James O\u2019Dowd of executive search firm Patrick Morgan.<\/p>\n Alongside job reductions, all four firms have expanded their offshoring efforts, pushing more work to lower-cost hubs in India, Malaysia and the Philippines.<\/p>\n \t\t\t\t\tRead more<\/p>\n