Is IFS finance stable from layoffs? At EY theyre laying off a bunch of internal facing roles and consulting.

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In my experience, IFS is more exposed to macroeconomic conditions and “disruptive” innovation. Think about the investment in Astro, now that AI is maturing. New leadership at the board level usually results in cost reductions, usually from the cost centers. And since the promo path is slower, there are a lot of people in the wings waiting to fill upper level positions, which usually get cut first as that’s where the payroll costs are. The business lines are struggling to find accountants and technical SMEs, so the pay to remain competitive is increasing, and those costs come from somewhere. Surely, a year over year decrease in partner share value is a no-no, so reinvestment in the firm at that level rarely (if ever) occurs. This understandable, but IMHO stunts innovation. Leaders appointed to various internal functions typically come from from the pool of practice area partners near retirement. Is there anything an Assurance partner can’t do? (That’s a joke).

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Not necessarily. Finance got reorged after the new equation and reduced headcount then. The same sort of thing could happen again.

Really depends on what group you are in. Possibly for IFS US roles (not finance specific but overall) that do similar work now being done in acceleration centers or centralized groups - have seen that the number of lower level roles (seniors and below) in those groups will not backfill when someone leaves. Haven’t seen any terminations just slow reduction in filling open spots and sometimes as far as coaching seniors & specialists to find other roles or promotions.

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When the market stabilizes, what will happen to high paid employees? Specially those who are above market standard. Organizations are hiring more than their Bench just to keep backup.
Reference Layoff Started from Better dot com
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