Money

EY Australia staff claim bullying, harassment, retaliation

Published

3 years ago

July 28, 2023

A comprehensive 142-page report investigating the workplace conditions at EY, a major professional services firm in Australia, has revealed numerous concerning issues within the organization.

Led by former sex discrimination commissioner Elizabeth Broderick, the report sheds light on problems that have implications not only for EY but also for the wider professional services sector and the broader white-collar workforce.

The report found that 11% of EY personnel regularly worked more than 61 hours a week, leading to health problems and prompting 40% of staff, particularly senior ranks, to consider quitting. Additionally, the study exposed instances of bullying experienced by 15% of staff over the past five years, sexual harassment affecting 10%, and racism affecting 8% of employees.

Of significant concern was the discovery that those who formally reported misconduct faced retaliation, resulting in a lack of trust in reporting mechanisms. The investigation was triggered by the tragic suicide of a 27-year-old Indian-Australian auditor at EY’s Sydney office, which sparked conversations about work hours, the company’s culture, and mental health issues in the entire professional services industry.

The report contradicted previous statements from EY’s leaders about working conditions, where the firm claimed not to overwork its employees. To address the issues uncovered, Elizabeth Broderick proposed 27 recommendations, including better project scoping, resourcing, and costing to reduce overwork, increased accountability for staff retention, and revised performance metrics focusing on diversity and inclusion.

EY’s CEO, David Larocca, acknowledged the problems and pledged to create a more respectful and inclusive workplace, committing to implementing all of Broderick’s recommendations. However, the report highlighted skepticism among EY’s staff regarding the company’s willingness to make meaningful changes to cut working hours.

Apart from overwork, the report exposed a normalization of bullying within the organization, with instances occurring even among senior staff. The issue of sexual harassment was prevalent, with a perception that reporting such behavior was discouraged, especially when the perpetrators held leadership positions. Furthermore, employees from diverse ethnic and religious backgrounds were more likely to experience racism at EY.

Overall, the report serves as a wake-up call for EY and the broader professional services industry to address critical workplace issues and foster a more inclusive, respectful, and supportive environment for their employees. Crisis support is available for those in need, and the company’s commitment to implementing the recommendations offers hope for positive change.

Money

U.S. stocks falling amid AI worries and weak earnings

U.S. stocks decline amid AI concerns, defensive sectors rising; traders eye commodities, jobs data, and currency trends for insights.

Published

3 hours ago

February 13, 2026

Harvey Vargas

U.S. stocks decline amid AI concerns, defensive sectors rising; traders eye commodities, jobs data, and currency trends for insights.

U.S. stocks are tumbling as investors grow concerned over AI profitability and disappointing earnings. Defensive sectors are attracting attention ahead of the upcoming CPI report, while market participants are carefully watching how tech-heavy AI stocks are influencing broader indices. Steve Gopalan from SkandaFX notes that these factors are shaping market sentiment.

For traders, commodities like gold and oil are also playing a role in sentiment, providing hedges amid market uncertainty. The January jobs report and unemployment data are adding further context, with potential implications for Federal Reserve policy.

Market expectations for rate cuts are shifting as investors weigh economic indicators against global market dynamics. Traders are also eyeing currency movements, including the Australian Dollar and Japanese yen, for signs of broader economic trends.

Money

Wall Street tumbles as tech stocks face AI disruption fears

Wall Street falters as tech stocks dive amid AI anxieties; 2026 seen as critical for proving AI investment returns.

Published

3 hours ago

February 13, 2026

Harvey Vargas

Wall Street falters as tech stocks dive amid AI anxieties; 2026 seen as critical for proving AI investment returns.

Wall Street took a sharp hit as tech stocks plummeted amid growing investor anxiety over artificial intelligence. Markets reacted strongly to uncertainty about how AI could disrupt major sectors, leaving investors on edge. Kyle Rodda from Capital.com explains why investors are nervous about what’s ahead.

Cisco Systems’ quarterly results added to the market jitters, while defensive sectors gained attention as investors sought safer bets. Analysts describe 2026 as a ‘prove it’ year for AI, with companies needing to demonstrate real returns on their ambitious investments.

The January Consumer Price Index report and rising concerns over AI’s impact on transportation companies further weighed on sentiment. Investors are now closely watching major tech firms for signals on how AI spending will shape future market performance.

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Money

U.S. jobs report, Fed decisions, and Japan’s economic risks explained

January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.

Published

1 day ago

February 12, 2026

Harvey Vargas

January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.

The January US jobs report shows a mixed picture for the economy, with payroll revisions and steady unemployment leaving analysts questioning the impact on Federal Reserve policy. We break down what the numbers mean for interest rates and market confidence.

US stock markets could face turbulence as investors digest the latest jobs data. David Scutt from StoneX explains how these figures may influence equities and what the outlook is for global markets.

Meanwhile, developments in Japan and a strengthening yen could spark new macroeconomic risks. From carry trades to unexpected shocks, we explore how these factors ripple across the global economy.

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