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- In June 2025, Grant Thornton UK laid off nearly 100 personal assistants and support staff.
- Where did those jobs go? As reported by the Financial Times, offshored to its sister company in India (roughly 40 of these roles).
- As per FT, Partners at the UK firm “are really embarrassed by this… they definitely didn’t want to do it”. However, “There’s pressure to get more and more roles to India.”
Grant Thornton + PE = Big ambition?
It all started in the U.S.
March 2024: Grant Thornton U.S. sold a majority stake in its non-audit advisory & tax arm to New Mountain Capital ($50B AUM).
With PE backing, GT US went on an acquisition spree, creating Grant Thornton Advisors LLC.
So far, it has snapped up:
- GT Ireland
- GT UAE
- GT Netherlands
- GT Luxembourg
- GT Cayman Islands
- GT Switzerland & Liechtenstein (220 professionals)
- GT Channel Islands (Jersey & Guernsey, 300 professionals)
FYI: Grant Thornton US also recently made headlines by acquiring Auxis, a 1000 member LATAM-based outsourcing firm.
But cuts followed too:
- 2023: 350 jobs cut.
- 2024: 150 more layoffs
Grant Thornton UK follows suit
GT US wanted to acquire GT UK, but the deal was rejected.
Instead, in December 2024, GT UK sold a majority stake to Cinven, one of Europe’s largest PE firms (€44B AUM).
- Valuation: £1.3–1.5B (among the largest PE deals in UK professional services).
- Cinven earmarked £39M bonus pool to drive tech and productivity.
- AlixPartners was brought in to fast-track transformation.
2024 Results:
- Revenue: £724M (+11% YoY).
- Operating profit: £147M (dragged by deal costs).
Clearly, PE is fuelling the offshore strategy
Cinven’s approach is no surprise. PE has a clear formula:
- Cut costs via offshoring and tech.
- Boost margins to reinvest in higher-value advisory.
- Build scale fast through acquisitions.
Honestly, this seems to be the only way to compete with the Big 4, who have strong capabilities centres India.
KPMG has gone a step ahead with Project Himalaya — merging US, UK, and India advisory arms, with India as the delivery HQ.
Also read: Grant Thornton is expanding quietly, backed by PE
It’s not just the giants…
Even emerging advisory firms are building capabilities in India.
For instance, Uniqus Consultech has raised over $23Mn to build an advisory firm.
In a short span, it has scaled to a global team of 550+ professionals and 60+ Partners & Directors across eleven offices in the USA, the Middle East and India….With India as its delivery hub!
So yes…
The entire delivery model is changing.
Critics, especially those who’ve lost their jobs to offshoring, are taking a dig at Indians.
But here’s the reality: private equity, globalisation, digital transformation (and greed) are forcing every professional services firm to rethink how it operates.
That means three things:
- Cut costs and boost margins so they can reinvest in higher-value work
- Expand into new markets before rivals do
- Leverage India’s scale and talent pool, where tech-driven teams can deliver seamlessly across time zones
What does this mean?
For employees in the UK & US: some roles will shrink, especially admin/back-office.
Senior, client-facing, or specialised roles are likely safe and even more strategic.
Labour/Data sharing laws may slow the pace, but won’t stop global offshoring.
The future workforce will be leaner, digitally-enabled, and collaborative across continents.
This shift isn’t just GT-specific; it’s the future blueprint for consulting and advisory.
FAQs
1. What is Grant Thornton Indus (GT Indus)?
Established in 2012, Grant Thornton Indus (GT Indus) serves as the firm’s global delivery and shared services hub.
Operating primarily from India, GT Indus supports member firms worldwide with services in tax, audit, advisory, and other operational functions.
2. Why is India becoming a global delivery hub for professional services?
India has emerged as a global delivery hub for professional services due to several key factors:
- Skilled Workforce: India boasts a large pool of professionals skilled in various domains, including technology, finance, and consulting.
- Cost Efficiency: Outsourcing to India offers significant cost savings for firms, making it an attractive destination for offshoring.
- Technological Advancements: The country’s advancements in technology and infrastructure support the delivery of high-quality services.
