The Big Four, including EY and Deloitte, are reportedly reducing employee workloads and dismissing "underemployed" workers to save expenses, according to a Times of London report.

According to a Times of London story, the Big Four, which include EY and Deloitte, have reportedly been letting go of employees to save expenses in recent months. Reports state that these corporations are now closely examining their employees' workloads and dismissing "underemployed" workers.

The Times was informed by sources that Deloitte and EY were two organizations increasing their reviews of workloads, particularly client time. They clarified that these firings based on performance were distinct from layoffs within the corporation and would primarily affect the consulting divisions of these businesses. Two companies were monitoring staff utilization rates by analyzing time sheets and work schedules to determine the amount of time employees spent interacting with clients, as reported by the Times.

According to the survey, staff members who dealt with clients were viewed as "utilized," while those who worked on internal projects instead of clients were viewed as "on the bench."

Utilization rates may reveal uncommitted workers for lucrative contracts. EY has established performance management procedures and examines various criteria. Deloitte representative confirms that the company does not plan to cut staff, and utilization rates may reveal which workers were not submitting names for lucrative contracts.

Amidst a difficult economic environment, the Big Four accounting firms — EY, Deloitte, PWC, and KPMG — have eliminated hundreds of jobs in the last year.