Global accounting and consulting firms Deloitte and EY said on Wednesday they were cutting pay for partners at their UK businesses by a fifth to protect jobs during the coronavirus crisis, mirroring moves at rivals PwC and BDO.
FILE PHOTO: Offices of Deloitte are seen in London, Britain, September 25, 2017. REUTERS/Hannah McKay
Houston said there would be no annual salary increases, with bonuses reduced and deferred until later in the year. Deloitte is one of the world’s “Big Four” accounting firms that check the books of most blue chip companies, the other three being EY, KPMG and PwC. PwC’s UK Chairman Kevin Ellis has said partner salaries will be cut by 20% during the pandemic to protect jobs, although there are no plans so far to furlough staff.
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