Deloitte cutting costs in response to slow economy
Deloitte is adjusting its organization to tackle upcoming market challenges, based on a report by Bloomberg. This adjustment involves consolidating its operations from five to four core divisions: audit and assurance; strategy, risk and transactions; technology and transformation; and tax and legal. This move aims to streamline and update Deloitte's approach in response to a decline in client demand, influenced by global economic uncertainties.
SMPs may not face the same level of restructuring needs as larger firms due to their leaner operations, but they are still subject to market pressures like reduced client spending. Their main challenges might stem from retaining and attracting clients in a competitive landscape and adapting to remote work and digital transformation trends that have become more prevalent.