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Stealth redundancies have been happening at a few firms, just as a way of quickly managing perceived underperformers out. Don’t think it has anything to do with this restructure.
Some big 4 firms got themselves into a situation where there were too many non client facing partners who are highly paid but add very little value apart from “team leadership”. Restructuring helps cull the number of unproductive partners.
It also is in line with recent trends, where clients are expecting more hands on involvement from partners and directors. Freeing them up from team leadership admin roles allows them to spend more time meeting client needs (or failing badly at it when they realise they are too far removed from the tools to be useful).
I have been hearing murmurs of layoffs around the office the past few days