Latest news with #DeloitteUK
Time of India
22-05-2025
- Business
- Time of India
Deloitte UK CEO to employees: Technology transformation division faced a particular …
Deloitte UK has announced that it will cut bonuses to 80% for employees in its technology and transformation consulting division and reduce overall promotions after the unit failed to meet profit targets for the 2025 financial year. Chief Executive Richard Houston informed staff in a company wide email that the technology and transformation (T&T) division "faced a particularly challenging year and fell materially short of its performance goals," according to Business Insider, which obtained the internal memo. Partners in the struggling division will also see reduced annual rewards. The firm plans to promote only 5,500 employees—25% of its UK workforce—compared to 28% promoted last year. Houston said Deloitte's total profits would be "slightly ahead of last year" but "below our original plan" when the financial year ends May 31. Market headwinds hit consulting demand, says Deloitte UK CEO Houston attributed the shortfall to continued market uncertainty , citing "an early election, geopolitical complexity, and unexpected economic headwinds" that disrupted anticipated growth opportunities. The consulting industry has faced a broader slowdown in demand that has pressured revenue growth across major firms. Employees in Deloitte's other three divisions—deals, tax and legal, and audit and assurance—will retain full bonuses after meeting or exceeding targets. However, the promotion cuts affect all divisions, with one T&T consultant telling Business Insider the news was "demotivating" and had "dampened" office morale. The firm has implemented aggressive cost-cutting measures , including slashing staff travel and expenses by over 50% in October 2024. Deloitte's global revenue grew just 3.1% to $67.2 billion in 2024, a sharp deceleration from the previous year's 14.9% increase. Despite the challenges, a Deloitte spokesperson emphasized the firm remains committed to "salary increases, bonuses, and promotions" alongside enhanced benefits packages. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
21-05-2025
- Business
- Yahoo
Deloitte to establish four technology centres across UK
Deloitte UK is set to establish four new technology delivery centres, aiming to offer advanced technology solutions to clients across the UK. These centres, forming part of Deloitte's Technology & Transformation business, will start operations on 1 June 2025 in Belfast, Cardiff, Manchester, and Newcastle. Initially, these centres will consolidate 750 of Deloitte's technologists to develop and implement technology solutions tailored to the dynamic needs of UK businesses. The focus areas will include app design, cloud engineering, and the integration of AI into various software and systems, such as SAP, to facilitate business transformation. These technology centres are anticipated to double the headcount to 1,500 within the next three years. The firm will offer multi-year technical training programmes to nurture new joiners into becoming experts in business solutions and technology delivery. Deloitte Belfast already has a workforce of more than 1,000. The new Belfast facility is poised to be the largest of the technology centres, with an additional 500 jobs expected to be created over the next three years. Deloitte regions managing partner Richard Bray said: 'Investing across the UK is a priority for Deloitte, and our technology centres are key to this ongoing commitment. I'm particularly excited about the opportunities these centres create for people wanting to start a new career in technology. 'We chose the North East as the pilot last year, initially hiring in a 25-strong cohort from a diverse pool of over 500 applicants - including individuals without prior technology experience, veterans, and those returning to work after a career break. We've since grown further in the North East and I look forward to welcoming many more talented individuals to Deloitte as we grow our business throughout the UK and create jobs for the future.' Furthermore, as per a report by the Financial Times (FT), Deloitte has informed its UK employees of impending changes, including fewer promotions, reduced average salary increases, and cuts to bonuses on average by 20% within the consulting division due to disappointing profits. In an email to employees, the company's senior UK partner Richard Houston indicated that the firm's overall profits for the financial year were "below our original plan" but "slightly ahead of last year". The consulting arm of Deloitte experienced a particularly challenging year, significantly underperforming its goals, the report said. The audit practice also fell short of profit expectations. However, the firm's deals business and tax and legal arm exceeded profit expectations and will receive full bonuses, stated FT. Deloitte's global revenues in 2024 saw a 3.1% growth, marking its 'worst performance' in 14 years, primarily due to a downturn in consulting services. To counteract this, Deloitte reduced its travel and expenses budget, which Houston acknowledged as a difficult but necessary measure to allocate funds for this year's bonuses. Deloitte plans a 2.9% salary increase for UK employees next year, a cautious approach reflecting the current market outlook and the recent 3.4% inflation rate. The firm also plans to promote approximately 5,500 employees, a reduction compared to previous years. In April 2025, Deloitte announced that it would shed jobs in its US consulting division. "Deloitte to establish four technology centres across UK" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
ITV News
19-05-2025
- Business
- ITV News
Global accountancy firm Deloitte announces plans for 500 new jobs in Belfast
Global accountancy firm Deloitte has announced plans to create 500 new jobs in Belfast. The new technology-focused posts will be filled over the next three years. The company made the announcement at the official opening of Deloitte's new Belfast office, which will house all of its current 1,300 strong workforce in Northern Ireland. The event was attended by Northern Ireland's First Minister Michelle O'Neill, deputy First Minister Emma Little-Pengelly, and Economy Minister Caoimhe Archibald. The firm said the investment was a response to increased client demand for UK-based delivery capabilities and specialist technology expertise. Belfast is to be largest of four new Deloitte dedicated technology centres in the UK – with the others based in Cardiff, Manchester, and Newcastle. The centres will be involved in creating technology solutions for UK businesses, from designing apps to embedding artificial intelligence into software, devices or systems. The firm is also launching a series of multi-year technical training programmes to upskill new joiners to work alongside its specialists. It is encouraging applications from non-technology graduates, career switchers and those returning to work after career breaks. The announcement was made by Richard Houston, senior partner and chief executive of Deloitte UK, alongside Jackie Henry, UK managing partner for People and Purpose and office senior partner at Deloitte in Belfast. Mr Houston said: 'The firm's investment in Belfast underscores our confidence in the long-term economic prospects of Northern Ireland and our dedication to its continued success. 'Alongside our new office building, we're creating exciting job and training opportunities for the region's talent to help build careers for the future. 'The creation of our new technology centres reinforces our commitment to digital skills, as well as our support for the UK's wider ambition to be a global technology leader.' Economy Minister Ms Archibald said the jobs announcement was testament to the 'strong pipeline of talent' from the region's universities and colleges. 'Deloitte has long been a partner in our talent development, and growth of our tech sectors,' she said. 'My department has supported Deloitte develop new skills and employment through its Assured Skills Academies, and I welcome the company's commitment to develop new programmes to support today's expansion announcement.'
RTÉ News
19-05-2025
- Business
- RTÉ News
Deloitte plans to create 500 jobs in Belfast
Global accountancy firm Deloitte has announced plans to create 500 new jobs in Belfast. The new technology-focused posts will be filled over the next three years. The company made the announcement at the official opening of Deloitte's new Belfast office, which will house all of its current 1,300 strong workforce in Northern Ireland. The firm said the investment was a response to increased client demand for UK-based delivery capabilities and specialist technology expertise. Belfast is to be largest of four new Deloitte dedicated technology centres in the UK - with the others based in Cardiff, Manchester, and Newcastle. The centres will be involved in creating technology solutions for UK businesses, from designing apps to embedding artificial intelligence into software, devices or systems. The firm is also launching a series of multi-year technical training programmes to upskill new joiners to work alongside its specialists. It is encouraging applications from non-technology graduates, career switchers and those returning to work after career breaks. The announcement was made by Richard Houston, senior partner and chief executive of Deloitte UK, alongside Jackie Henry, UK managing partner for People and Purpose and office senior partner at Deloitte in Belfast. "The firm's investment in Belfast underscores our confidence in the long-term economic prospects of Northern Ireland and our dedication to its continued success," Mr Houston said. "Alongside our new office building, we're creating exciting job and training opportunities for the region's talent to help build careers for the future. The creation of our new technology centres reinforces our commitment to digital skills, as well as our support for the UK's wider ambition to be a global technology leader," he added. Economy Minister Caoimhe Archibald said the jobs announcement was testament to the "strong pipeline of talent" from the region's universities and colleges. "Deloitte has long been a partner in our talent development, and growth of our tech sectors," she said. "My department has supported Deloitte develop new skills and employment through its Assured Skills Academies, and I welcome the company's commitment to develop new programmes to support today's expansion announcement," he added.
Irish Examiner
19-05-2025
- Business
- Irish Examiner
Deloitte announces plans to create 500 new jobs in Belfast
Global accountancy firm Deloitte has announced plans to create 500 new jobs in Belfast. The new technology-focused posts will be filled over the next three years. The company made the announcement at the official opening of Deloitte's new Belfast office, which will house all of its current 1,300 strong workforce in Northern Ireland. The event was attended by Northern Ireland's first minister Michelle O'Neill, deputy first minister Emma Little-Pengelly and economy minister Caoimhe Archibald. The firm said the investment was a response to increased client demand for UK-based delivery capabilities and specialist technology expertise. Belfast is to be largest of four new Deloitte dedicated technology centres in the UK — with the others based in Cardiff, Manchester, and Newcastle. The centres will be involved in creating technology solutions for UK businesses, from designing apps to embedding artificial intelligence into software, devices or systems. The firm is also launching a series of multi-year technical training programmes to upskill new joiners to work alongside its specialists. It is encouraging applications from non-technology graduates, career switchers and those returning to work after career breaks. The announcement was made by Richard Houston, senior partner and chief executive of Deloitte UK, alongside Jackie Henry, UK managing partner for People and Purpose and office senior partner at Deloitte in Belfast. Mr Houston said: 'The firm's investment in Belfast underscores our confidence in the long-term economic prospects of Northern Ireland and our dedication to its continued success. 'Alongside our new office building, we're creating exciting job and training opportunities for the region's talent to help build careers for the future. 'The creation of our new technology centres reinforces our commitment to digital skills, as well as our support for the UK's wider ambition to be a global technology leader.' Northern Ireland economy minister Ms Archibald said the jobs announcement was testament to the 'strong pipeline of talent' from the region's universities and colleges. 'Deloitte has long been a partner in our talent development, and growth of our tech sectors,' she said. 'My department has supported Deloitte develop new skills and employment through its Assured Skills Academies, and I welcome the company's commitment to develop new programmes to support today's expansion announcement.'
