In 2025, the Big 4 accounting firms—Deloitte, EY, KPMG, and PwC—continued to implement significant, targeted layoffs driven by overhiring, slower growth, and reduced demand for advisory services. PwC headlined 2025 cuts, laying off approximately 1,800 US staff in late 2024 and another 1,500 in May 2025.
Thousands of workers have seen their jobs eliminated this year at large companies including Amazon (AMZN), UPS (UPS), Nestlé (NSRGY), Microsoft (MSFT), and Verizon (VZ), in an economy defined through 2025 by uncertainty, AI, and global tensions.
The boom started to dwindle in 2023, when Deloitte, EY, and KPMG made staff cuts. PwC US followed suit, laying off around 1,800 people in October 2024 and 1,500 more in May 2025.
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Partner promotions at the Big Four accounting firms in the UK hit a five-year low for the 2025 cycle, underlining the sector's struggle to protect profits as slowing demand for consulting services erodes revenues.
EY's 2025 U.S. layoffs are broader and more unpredictable than in previous years. While the firm is citing performance in some cases, the reality is that many high-performing employees have been let go due to structural realignments, client attrition, and global cost-cutting.
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Of the Big 4, KPMG is the smallest and also the only one operating outside of London—the firm's headquarters is in Amstelveen, Netherlands.
PwC and Deloitte are the most prestigious
If you ask most people about prestige, they'll probably rank PwC/Deloitte > EY > KPMG.
The average Deloitte salary in India can vary greatly by role. Annual salaries typically range from ₹2,00,000 (or ₹96) for a Article Trainee to ₹1,20,00,000 (or ₹5,769) for a Partner. This is based on 54216 salaries submitted on Glassdoor by Deloitte employees in India as of January 2026.