Ernst & Young informed its workforce that it would be cutting 3,000 jobs in the United States. The London-headquartered financial services giant, one among the 'big four', is reportedly executing the job cuts to eliminate "overcapacity.

'Big Four' hiring decline: Ernst & Young blames 'overcapacity' for 3,000 job cuts

Ernst & Young's US arm said that it was firing 3,000 job cuts or five per cent of its American workforce. Less than a week ago, the firm called off a split between its auditing and consulting units, but a spokesperson said the cuts are unrelated to the scuttled plan.

Ernst And Young announces 3,000 job cuts in US due to overcapacity

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'Big Four' hiring decline: Ernst & Young blames 'overcapacity' for 3,000 job cuts

Ernst And Young announces 3,000 job cuts in US due to overcapacity