KPMG and EY demote partners in end of job-for-life model
Move is a departure from the practice of simply asking underperforming senior partners to retire
Move is a departure from the practice of simply asking underperforming senior partners to retire

Cull comes after years of low uptake for voluntary retirement scheme

Big Four firm says move reflects better management of workloads

Big Four accounting firm has improved profitability in Britain as it recovers from series of scandals

Big Four firm and rivals are struggling to regain footing even after reductions in headcount and costs

Deloitte, EY, KPMG and PwC bosses strive to protect profits amid slowing revenues

Consultancy tells senior staff their remuneration will comprise a greater proportion of equity