Deloitte UK Cuts Partner Promotions by 25% Amid Industry Slowdown
Deloitte UK has reduced the number of partner promotions by 25% this year, a clear sign of the ongoing financial pressure on the Big Four consulting firms.
Only 60 New Partners This Year
In its latest announcement, Deloitte revealed that only 60 employees were promoted to partner in 2025 down from 81 last year. This is a significant drop and reflects a slower business environment.
However, the firm also promoted 77 existing salaried partners to equity partners, which is more than double the number from last year. Equity partners receive a share in the company’s profits, while non-equity partners are on fixed salaries.
Revenue Growth Slows Sharply
According to Deloitte, its UK revenue growth for the 2024 financial year was only 2.4%, a sharp fall compared to 14% growth in 2023. These figures highlight the cooling demand for consulting services, especially in the UK market.
Bonuses Cut Across Consulting Division
An internal memo from Deloitte UK CEO Richard Houston informed staff that bonuses will be lower this year, especially for those in the consulting division, who will receive only 80% of their expected bonuses.
Houston noted that profits for 2025 will be slightly higher than last year but below internal targets.
Diversity in New Partners
With the new promotions, Deloitte UK now has 1,356 partners. Of these:
- 31% are women
- 12% come from ethnic minority backgrounds
This reflects slow but ongoing progress in partner diversity.
Other Big Four Firms Also Under Pressure
Deloitte isn’t alone. Other Big Four firms in the UK PwC, EY, and KPMG have also reduced their partner numbers:
- PwC lost 124 partners in 2024
- EY’s partner count dropped by 43
- KPMG has seen three years of steady declines
This shows a wider industry trend as firms respond to slower growth and tighter budgets.
