EY CEO denies job cuts as transaction staff told not to expect bonuses

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EY CEO denies job cuts as transaction staff told not to expect bonuses
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EY Oceania managing partner David Larocca said the local firm had pulled back on recruitment but would not emulate the job cuts happening at EY US.

has been told that partners in EY Oceania’s consulting business have been asked to assemble lists of underperforming staff members. The lists are targeted at managers and more senior staff members who have not met performance targets, according to the insiders.Advertisement

Mr Larocca declined to comment on the reports of the informal conversations and the strategy and transaction team meeting. Conversations about promotions and pay rises are typically ongoing within the organisation ahead of the formal performance management process.Move forward ‘with confidence’ “There has been extensive communication on this subject, and an abundance of noise in the media. This often creates more questions than answers! Having spoken to many of you, the most common questions I have been asked are: ‘What now?’ and ‘What next?’He said it was now “time to take stock of all the work and in-depth analysis that has been done over this past year”.

We knew working towards a first-of-its-kind complex deal would be challenging, and there are undoubtedly countless learnings to be captured. There has been extensive communication on this subject, and an abundance of noise in the media. This often creates more questions than answers! Having spoken to many of you, the most common questions I have been asked are: ‘What now?’ and ‘What next?’

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