Grant Thornton laid off around 150 staff in the U.S., or about 1.5% of its roughly 9,700 employees there, the Wall Street Journal reported, citing people familiar with the matter.
The layoffs span the accounting firm’s advisory, tax and audit businesses, the report said. They’re aimed at “meeting market demand and reallocating capacity from where growth has slowed,” Mark Margulies, national managing principal for U.S. tax services, said in a memo cited by the newspaper.
Grant Thornton said in a statement to the Wall Street Journal that the firm has “made targeted staffing decisions to best meet the needs of the clients, markets and industries it serves.”
Milan Jaros/Bloomberg
Bloomberg News reported in May that Grant Thornton would reduce its U.S. workforce by almost 4%, cutting 350 jobs across all its major service lines.
Grant Thornton’s U.S. entity sold a majority stake in May to a group led by private-equity firm New Mountain Capital. Cinven, also a private equity firm, announced on Nov. 21 that it would acquire a majority share in Grant Thornton U.K.
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