Deloitte UK to cut over 800 jobs – source

(Reuters) -Deloitte is planning to cut more than 800 jobs in the United Kingdom, a source told Reuters on Wednesday.

The company is proposing some targeted restructuring that would result in the reduction of 3% of its workforce of 27,000 in the UK, a person familiar with the matter told Reuters.

The move comes as Deloitte, one of the “Big Four” accounting firms, plans to focus on cost-cutting due to the slowdown in the second half of the current financial year as clients are being more cautious in their spending, the person said.

A number of businesses have reduced their workforce in recent times anticipating a likely economic slowdown later in the year.

In April, the Financial Times reported that Deloitte would slash around 1,200 jobs or 1.5% of its U.S. workforce. That was followed by KPMG’s announcement of laying off 5% of its workforce in June.

Deloitte, KPMG, EY and PricewaterhouseCoopers (PwC) make up the Big Four of accounting firms.

(Reporting by Anirudh Saligrama and Saikeerthi in Bengaluru; Editing by Shweta Agarwal)