EY Cuts 5% of Accounting Jobs

There are more shake-ups to report among the Big 5 firms as each of the firms struggles to get a foothold in the e-commerce business.

Ernst & Young has layed off 400 people who held traditional accounting jobs because of a shift in mindset at the firm from the tried and true accounting business to E-commerce, E-business and the like. The company employs 8,000 worldwide.

Similarly, KPMG just restructured its consulting business, and last fall, PricewaterhouseCoopers eliminated 1,000 positions.

Overall, the consulting industry has grown to levels in which servicing the client means being online with customers, continuents and other audiences.

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