RSM US lays off 3% of workforce
RSM US, a mid-market accounting and consulting firm, on Friday laid off 3% of its workforce, Accounting Today reported.
A greater proportion of the cuts fell on the consulting division, which had 5% or approximately 240 jobs eliminated. A tipster told Going Concern that most of the cuts impacted the Dynamics 365, risk consulting, and management consulting lines.
A source within RSM told Accounting Today the consulting practice was notified of the layoffs via a virtual meeting with the practice leader.
“The need for these reductions stemmed from a challenging six-month period, where we saw our numbers fall significantly short of forecast,” an internal email to the consulting team said. “In response, we’ve adjusted to ensure we’re right-sizing our business to better meet client needs.”
An RSM spokesperson told Accounting Today, “RSM has made some workforce reductions to align our staffing with current and anticipated demand for our services.”
The RSM layoffs arrive soon after PwC US announced plans to cut 1,800 jobs or 2.5% of its headcount.
The rest of the Big Four accountancies cut jobs in 2023 amid slowing demand for consulting services.
