FTI Consulting Trims Workforce by 4% to Offset Declining Demand

The layoffs affect a significant portion of the firm's 8,200-plus employees and are being executed across the transition between the third and fourth quarters. To facilitate the exit, FTI Consulting has already booked a $45.5 million charge covering salary and benefits, with an additional $2 million expected to hit the books by year-end. Beyond the staff reduction, the firm is consolidating its physical office space. This real estate strategy has incurred $500,000 in immediate costs, with a further $5 million in charges anticipated in the final quarter. Combined, these measures are projected to generate approximately $80 million in annualized cost savings for the business.