BDO Sydney cuts 4 partners, several team members from advisory team

BDO Australia is culling jobs within its Sydney advisory arm, as several team members and four partners have been sent packing.

In another post by a professional services Instagram account, The Aussie Corporate, it was revealed by anonymous post on Friday afternoon (21 November) that the professional services firm planned to “lay off” members in advisory.

The post read: “BDO layoffs in advisory team, all levels from partners and below. All teams in advisory.”

Accounting Times reached out to BDO to confirm if the information was correct, to which the firm said positions had been cut from BDO’s Sydney advisory team.

Despite the small cut to jobs, a BDO spokesperson told Accounting Times it would have no impact on the advisory team and that it would continue to operate efficiently and effectively.

“I can confirm that four partners and several team members are in the process of leaving our Sydney advisory practice as part of our firm's strategy to focus on areas with strong market demand and growth potential,” the spokesperson said.

“We thank those leaving for their contributions, and we are supporting each individual in their transition. Our Sydney advisory team remains highly capable, and we are committed to delivering quality service to our clients and advancing our practice locally and nationally.”

The news rounds out a week of redundancies and hires within the consulting divisions of the big four, as EY cut 50 roles within the area and KPMG looked to expand the branch by at least 200 positions or more.

EY decided to cut roles from its consulting sector after previous cuts in February, and the company faced plummeting demand for the service.

KPMG confirmed the leaked news of expansion to its consulting arm; however, it neither confirmed nor denied whether it was looking to hire for more than 200 roles.

Despite EY’s declining demand within consulting, KPMG said it was opening various roles in the division to respond to increasing client demand and provide new growth opportunities.