BDO Cuts Partner Pay by £92k Amid UK Economic Downturn

BDO, one of Britains largest accounting firms, announced a significant cut in partner pay, dropping by £92,000 to £589,000 due to a downturn in the UK economy. The firms profits fell by 7.5% to £210 million, with reduced activity in audit and deals advisory divisions. BDOs hiring spree last year, unlike competitors job cuts, exacerbated the profit slump. This highlights the challenges faced by firms relying on small and medium-sized businesses during an economic slowdown.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.