Deloitte to reduce bonuses in the UK, high wages and promotions

Digest opened free editor

Rola Khaleda, FT editor, chooses her favorite stories in this weekly newsletter.

Deloitte has told the UK that it would promote fewer people, reduce the high average salaries, and reduce rewards for the consulting arm with disappointment of the four major profits of the company.

Deloitte counseling employees will not receive full rewards, which will be reduced on average by 20 percent, and the levels of partners’ salaries will also be affected, according to an email sent to employees on Tuesday by the partner of the British company’s great company.

Houston wrote in the memo, which was seen by The Financial Times.

Houston wrote that Big Four Form’s advisory works “faced a particularly difficult year and outperformed the goals of its performance.” Meanwhile, their audit practices have also been performed less than profit plans. The memo was not separated from the actual profit that was achieved.

“At the beginning of the fiscal year 25, we expected greater economic stability and a gradual return to growth opportunities. But early elections, geopolitical complexity and unexpected economic opposite pioneers – such as changes in commercial policies – continued to be uncertain in the market,” Houston wrote.

The company’s deals and tax arm and legal arm performed higher profit expectations, and thus will be in a line on full rewards.

Deloitte’s decision comes amid the ongoing conflicts of Big Four consulting weapons, which continue to move in the postpartum decline in demand for business. Companies were forced to reduce employees who were appointed during a pandemic boom in consulting projects.

Deloitwitt’s global revenues in 2024 increased by only 3.1 percent, The worst performance in 14 yearsPaid with a great slowdown in the company’s consulting department. The UK’s advisory consultant in the United Kingdom also contracted last year.

It was Deloitte She reduced her travel and expenses The budget at the end of last year to reduce the slowdown, which Houston admitted in the Tuesday note “was not easy.” He said that some of the teams “are unable to be together personally throughout the year,” but the discounts helped the company directly to pay its rewards this year.

Next year, Deloitte will increase the salaries of UK employees by 2.9 percent, compared to increasing salaries by 5 percent for the previous year, according to the memo, which reflects “the need for caution given the current market expectations.”

The company will also promote about 5,500 employees, compared to 6800 employees last year, and more than 7,000 in the previous year.

Houston said that the bonuses of the company has turned into the company, and it will begin to include a performance -based performance component in addition to those that depend on individual performance at the company level. The change was “a deliberate shift from previous years to reflect the differences in performance through our business.”

Deloitte UK said: “In the urgent uncertainty in the market, we are pleased to be able to get to know our employees with their hard work with salary increases, bonuses and promotions this year. This is in addition to other benefits such as the fully funded private medical insurance, recently enhanced family policies, and our commitment to providing flexibility and choice in work methods,” said Deloitte UK.