Ernst and young has announced that they are going to be cutting pay and reducing hours for employees and partners in Australia.
They will be reducing pay and hours by 20%.
This measure will take effect from May to July 2020. After that time period, they will reassess whether additional cuts are necessary.
Ernst and Young Australia is also likely going to be cutting employees during this time period. They are encouraging people take vacations during this time period. Essentially, they are trying to offset all their expenses during this time period.
If you work at EY Australia, it would be a good idea to take some time off during this time period if you can.