Grant Thornton, a prominent professional services firm, has announced that it will cut 300 jobs, with a majority of the layoffs concentrated in the advisory and tax divisions. The layoffs will reduce the company’s United States workforce by 3%, as the company’s US workforce is 9000 employees, while 68,000 workers are employed globally. Grant Thornton cited economic conditions and underutilization of employees in certain divisions as the cause for layoffs. The company will invest more resources in divisions that are currently experiencing high growth. The layoffs at Grant Thornton follow layoffs at various other professional services firms in their consulting divisions. EY cut 3000 workers and KPMG laid off hundreds of employees this past year due to a reduction in demand for consulting services.
See "Grant Thornton layoffs will affect hundreds of employees in tax and advisory divisions", Mark Maurer, The Wall Street Journal, November 8, 2023