Grant Thornton Cuts 350 Jobs in Latest Round of Firm Layoffs

Grant Thornton LLP will reduce its US workforce by nearly 4%, cutting 350 jobs that span all of its major service lines of tax, audit, and consulting ahead of a major restructuring.

Staff at the Top 10 accounting firm learned of the layoffs this week. Partners were spared from the reductions, according to a person familiar with the US firm’s strategy.

The cuts, which follow two rounds of reductions last year, come as the firm prepares to close a deal this quarter with New Mountain Capital LLC, which will acquire a majority stake in the $2.4 billion accounting firm. ...