Big 4 job cuts

The pandemic hiring boom at the Big 4 accountancy firms appears to be over in the UK, with at least three of the four now planning quite sizeable job cuts and redeployments.

Deloitte, EY and KPMG are cutting jobs by 3%, 5% and 2.3% respectively, and wellbeing charity caba said the redundancies mean many accountants will be feeling anxious because of the uncertainties, and worried about the future.

Caba’s Paul Guess, a wellbeing expert, said: “It is important to give yourself time to process how you feel about the changes. While redundancies may feel personal, it is important to acknowledge that they rarely are. Sharing these thoughts and feelings with friends or family could allow you to process your emotions and accept the new circumstances.”

He stressed you need to have a clear plan of action for what you are going to do next, as this can really help you turn the situation around.

Financial worries can be a real concern too, and Guess says you must take ownership and create a budget. If you’re worried about your finances, caba has a range of financial service tools and resources to help you cope with redundancy.