Grant Thornton UK has cut a significant number of its secretarial staff, with many roles outsourced to its sister company in India. The move follows its sale to private equity group Cinven and reflects broader efforts to streamline operations and support digital transformation.
Grant Thornton UK has cut a significant portion of its UK-based secretarial staff, with many roles being moved to the firm’s sister company in India, according to people familiar with the matter.
The move follows the firm’s sale of a majority stake to private equity group Cinven last year and comes amid wider efforts to streamline operations.
Multiple sources indicate that around 40 secretarial positions have been outsourced, though the total number of cuts remains unclear. Estimates from within the firm suggest the figure is close to 100.
The reductions affected personal assistants and support staff, with departures occurring in June.
The decision reflects a broader trend among professional services firms, which increasingly relocate administrative and support roles to lower-cost jurisdictions or replace them through technology and artificial intelligence.
Sources said the cuts were not taken lightly, with partners reportedly “embarrassed” by the impact on staff, but under pressure to transfer more roles to India.
Grant Thornton UK said the moves were part of an ongoing evolution of delivery models.
“Whilst a small number of people have left the firm, these decisions were made independent of our transaction with Cinven in response to the evolving needs of the business,” the firm said. It added that advisers were supporting digital transformation and growth plans, and that no formal restructuring was being undertaken.
The UK arm of Grant Thornton agreed to the majority stake sale to Cinven in 2024, rejecting a competing offer from New Mountain Capital, which holds a stake in Grant Thornton US.
Following the deal, consultancy AlixPartners was engaged to review aspects of the firm’s operations, including initiatives to improve productivity.
Cinven, according to sources, has not been directly involved in the implementation of the staff reductions, which were handled by Grant Thornton itself. The private equity group has invested in the firm, including committing £39 million to a bonus pool, as part of broader growth plans.
The decision to move secretarial functions to India underscores the strategic importance of the Indian arm of Grant Thornton, which already provides accounting and support services to the UK firm.
The Indian business, the largest by employee numbers within the network, is seen as a key component in ongoing expansion plans and potential acquisitions within the global network.
Grant Thornton UK said an internal survey found that 98 per cent of partners remain proud to be part of the firm. Cinven and Grant Thornton India declined to comment on the staff changes.
