Grant Thornton, one of the largest professional services firms in the world, announced today that it will be laying off 300 employees in the United States. The layoffs represent about 3% of the firm’s total workforce in the country.
The layoffs are due to a number of factors, including a slowing economy and declining demand for the firm’s services. In a statement, Grant Thornton said that it is “making targeted staffing adjustments so it can invest in higher-growth areas of the business.”
The affected employees will be laid off by the end of Thursday, June 2, 2023. Grant Thornton said that it is providing severance benefits and professional outplacement services to help the affected employees transition to new jobs.
The layoffs at Grant Thornton are the latest in a series of job cuts by major professional services firms. In April, Ernst & Young announced that it would be laying off 3,000 U.S. employees, and KPMG said it would be laying off several hundred people in its consulting division.
The layoffs are a sign of the economic challenges facing businesses in the United States. The economy is growing at a slower pace than it has in recent years, and there are concerns about a recession. These factors are leading businesses to cut costs, including by laying off employees.
The layoffs at Grant Thornton are a setback for the firm, which has been growing rapidly in recent years. The firm has added thousands of employees in recent years, and it has expanded into new markets. However, the economic challenges facing businesses are now making it difficult for Grant Thornton to continue its rapid growth.
The layoffs at Grant Thornton are a reminder of the tough economic times that businesses are facing. These challenges are likely to continue in the near future, and they could lead to more job cuts in the professional services industry.
- Grant Thornton is a global professional services network with over 68,000 people in over 140 countries. The firm provides assurance, tax, and advisory services to a wide range of clients, including businesses, governments, and individuals.
- Grant Thornton is a member of Grant Thornton International Ltd., a not-for-profit organization that provides the firm with shared resources and support.
- Grant Thornton is a recognized leader in the professional services industry. The firm has been ranked among the top 10 accounting firms in the world by The Economist Intelligence Unit, and it has been named one of the “World’s Most Ethical Companies” by the Ethisphere Institute.
- Grant Thornton is committed to providing high-quality services to its clients. The firm is a certified B Corporation, which means that it meets high standards of social and environmental performance, accountability, and transparency.