Trade unions against the ‘Big Four’

At a round-table discussion held in Luxembourg, representatives of trade unions highlighted the deterioration in working conditions and systematic redundancies at the so-called ‘Big Four’ consultancy and audit firms: PwC, Deloitte, KPMG and EY. Workers’ representatives stated that, despite these organisations’ strong financial performance, their staff face constant pressure, and breaches of labour law have become a regular occurrence.

According to STATEC data, over the past two years, staff numbers at audit firms in Luxembourg have fallen by 8 per cent, equivalent to a loss of 530 jobs. OGBL Secretary Angélique Lazzara noted that staff numbers at Deloitte and KPMG had fallen by 6–8 per cent, whilst redundancies at PwC had reached 14 per cent. At the same time, the organisations’ annual revenue remains at an all-time high: PwC reported €765 million, Deloitte €535 million, and KPMG €373 million. In light of this, the trade unions have questioned the justification for cutting staff numbers against a backdrop of rising revenues and increasingly demanding work schedules.

Maria-Helena Macedo, a member of the LCGB’s Executive Committee, has noted an increase in the number of enquiries from former employees of the ‘Big Four’ who were dismissed under questionable circumstances, including the termination of contracts following 26 weeks on sick leave. According to her, employers’ demands for flexibility should not turn into constant availability and a breach of the work-life balance.

For his part, David Angel, a representative of the OGBL Executive Committee, highlighted the special status of audit firms, which carry out around three-quarters of the statutory audits in the country. He also highlighted their links with the public administration, noting the presence of former and current employees of these firms within political institutions and their involvement in the drafting of coalition agreements. Against this backdrop, trade union organisations have officially called on the authorities to conduct an independent investigation into the reasons for the redundancies and to strengthen oversight of compliance with collective redundancy procedures.