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Deloitte’s big reorg aims to slash costs in a decade.

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TLDR:

  • Deloitte is undergoing its largest reorganisation in a decade to cut costs and reduce complexity in the face of an expected market slowdown.
  • The plan involves consolidating the main business units, reducing costs, and streamlining operations.

Accounting giant Deloitte has launched the biggest overhaul of its global operations in a decade, aiming to cut costs and reduce complexity in anticipation of a market slowdown. The reorganisation involves restructuring the main business units into four categories, reducing costs across the firm, and freeing up partners to work more closely with clients.

Deloitte’s global chief executive Joe Ucuzoglu is leading the shake-up, which will take about a year to implement across the firm’s operations in over 150 countries. The move comes as Deloitte, along with other Big Four firms, prepare for a challenging period due to economic headwinds and market uncertainties.

The reorganisation will see Deloitte’s advisory businesses consolidated into three divisions, while its audit and assurance arm remains separate. The restructuring aims to eliminate silos and enhance collaboration among different units, with a focus on offering integrated services to clients.

Despite internal divisions and past challenges faced by competitors in similar restructuring efforts, Deloitte aims to complete the reorganisation by June 2025. The firm believes that the new structure will modernize its operations and better align with the evolving needs of its clients in a rapidly changing business landscape.

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