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flag KPMG and EY end job-for-life model, cutting senior partners.

flag Major accounting firms KPMG and EY are cutting the ranks of senior partners, ending the traditional job-for-life model. flag Underperforming partners are being demoted to salaried roles without profit-sharing, while KPMG has also reduced the equity stakes of long-serving partners. flag These moves are aimed at tightening financial control and improving profitability amid slowing consulting demand.

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