Accounting firm EY has called off its plan to break up its auditing and consulting divisions. The firm, formally known as Ernst & Young, announced it was "stopping work on the project" because its ...

Codenamed "Project Everest," the bid collapsed in April 2023 amid infighting and opposition from senior US partners. Truncale took over as EY's global chair and CEO in July 2024.

The two-day Project Everest summit, including a 6.30 p.m. dinner on the first night, was held at EY’s U.K. headquarters near the Shard skyscraper by the River Thames.

Ernst & Young plans to lay off 3,000 employees, or close to 5% of its workforce in the U.S., to reduce "overcapacity," mostly on the consulting side of the firm, only days after calling off plans to ...

The climb down from “Project Everest” came just a week before EY cut 3,000 jobs from its US business, representing 5% of its workforce, citing “overcapacity.” More cost-cutting measures are expected, ...

The "Project Everest" plan to spin off EY's consultancy activities, closely watched by KPMG, PwC and Deloitte, who along with EY make up the "Big Four", was paused last year due to opposition from ...

Ernst & Young’s plan for a possible world-wide split of its audit and consulting businesses, code-named Project Everest according to people familiar with the matter, was dismissed by major ...

Di Sibio has driven transformative change through bold investments in emerging technology, artificial intelligence (including launching the US$1.4b EY.ai platform) and innovation. Di Sibio also ...

The dominant US arm of the firm decided not to proceed and Project Everest came to a halt. But not before the consulting business was valued at $100 billion.