The Big Four accounting firms — Deloitte, Ernst & Young, KPMG, and PricewaterhouseCoopers — are downsizing their consulting divisions due to a slowdown in growth and reduced demand for third-party services in certain areas. This trend is influenced by a shift in client needs and the pandemic-induced boost in hiring, leading to a higher-than-expected retention rate, but also causing concern as more businesses reevaluate their consulting needs, potentially impacting revenue. |