Any EYGDS Senior Consulting member here?Any thoughts about EY split?
I will be joining GDS in few weeks as a Manager, I am really worried about the future of this Newco.

1.When will it split?
2.Is it going to be a kind of startup?
3.Is it going to be listed on stock exchange?
4.Any benifits or harms it is going to give to existing or new consulting employees?
4.Is Job security going to be a risk in Newco?
6.Did EY management share any insights on this Newco employee policies for new joinees?

likeuplifting
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What to fear? Newco is actually the bigger entity with 25bn valuation. It's like dividing the money in your wallet and keeping it in two pockets. Apart from that there is nothing here at least to employees of the company that is going to affect them adversely. They obviously have to maintain the EY brand for the Assureco as EY was built and founded as an audit firm and they don't want to damage their business by changing their name in the field of Audit. It's actually good for the total growth of organization and employees too. Now the Assureco can take up the audit activities and Newco can provide other services to the same company. At the end of the day revenue flows in from both sides. This increases work and hence more employment and more growth in store.

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1. Sep 23
2. Yes 25million startup funded by EY
3. Yes
4. Harms- Lost EY BRAND, benefits- faster growth
5. Don't think so
6. No

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No worries with GDS India at least. We are cost center and they have setup GDS to cut the cost but keeping the quality of delivery. Their onsite employee rates are 3-4 or more higher than us. So no worries for GDS.

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If no senior members then whoever is from EY consulting kindly share the initial reactions or feelings among your peer group, are people panicked due to this split or they are expecting positive changes?

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EY5, Carmine mentioned there will 2 CBS. One for Newco and another for AssureCo

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@OP - 1. Deal sign by 1st Jan 2023, Day1/Deal close by 31st Dec 2023. However the dates may change a bit later. Deal may also stop if 51% partners do not agree to move ahead (highlight unlilely scenario).
2. Yes! Starting with 25Bn revenue
3. Yes! But only after they generate goodwill and get good stock price
4. Definitely a plus for Sr. mgmt./Partners. Would it come to lower staff? - Too early to comment. Maybe NOT, otherwise they would have already committed ESOPs etc.
5. Bigger question is would they be able to retain talent?
6. Right now Partners are only thinking about their safeguard. General public is not in question

likesmart

..

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+1

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++

I'm neither very much hopeful nor hopeless 😅. But recently I read an article about the split and they mentioned like other 3 firms don't go for split option coz there is a strong chance that it may land up poaching each other clients. I not very sure how bright the outlook will be.

Split will start on next year Sept. Based on voting decision will be made which will starts in few months and end mid next year

In which Co. Tax TTT will be fall in ?

Hope so. Fingers crossed

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likefunny

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