Home » Layoffs are raining down on Wall Street, but there is a global giant flooded with CVs for 220,000 hires

Layoffs are raining down on Wall Street, but there is a global giant flooded with CVs for 220,000 hires

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Layoffs are raining down on Wall Street, but there is a global giant flooded with CVs for 220,000 hires

EY ready to hire new professionals. A major crackdown in the financial sector. While major investment banks may be cutting jobs over the next few months, professional services firms are getting bigger and ready to new hires over the next few months.

EYformerly known as Ernst & Young, is poised to hire 220,000 people between now and July 2023. The company is preparing to make this major move after achieving its fastest growth over the past two decades, compared to the past. This, however, constitutes the first step that of a potential disruption of its auditing and advisory divisionswhich could lead to a further recruitment campaign of 160,000 units to be concluded by the end of 2022.

EY, 3 million CVs are being studied

EY expects to analyze and evaluate something like 3 million resumes by the end of this year. Trent HenryEY Global vice chair for talent said the company is using IT automation to help its recruiting professionals and match candidates to job postings.

EY’s competitors have also grown in tandem and are moving forward with their own hiring policies. PwC it hired 148,000 professionals during 2022 and expects to hire another 100,000 by the end of 2026. KPMG e Deloitte they are continuing to hire. Overall the four companies have exceeded the million employees.

The need for EY and other industry giants to hire new professionals underlines how the demand for professional services continues to be high. However, cuts remain in other sectors. Some companies listed on Wall Street, such as Citigroup e Barlaysthey started cutting employees. Amazon announced the cutting of at least 10,000 jobs. Layoffs that could continue over the next year.

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According to Reed UK, job vacancies in the accounting sector grew during the month of October, reaching 21,000. The legal and banking sectors have stopped at only a third of this value.

Growth and diversification

It is mainly growth and diversification that explains the search for new personnel in accounting consultancy firms. Over the last few years, the big names in the industry have started adding new services as they have expanded their offerings. The specialist consultancy sector Deloittein the UK, has announced that it is recruiting at least 3,500 new employees to join over the next five years.

There is no lack of recruitment even in Italy. In EY there are many open positions for those who want to do an internship or apprenticeship. Other proposals envisage a more stable and secure employment contract, such as for example in the field of management and technological consultancy, where IT, data analytics and cybersecurity skills are sought. Deloitte, for example, is looking for 1400 junior and senior profiles, with technical-scientific or mathematical skills in Southern Italy. The search for personnel to be hired will continue until the end of December and, in particular, 260 figures are being sought precisely for the central-southern area of ​​the Italian peninsula.

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