Big Four giant Deloitte hiked pay for one of its chief executives last year by almost half while overall headcount at the firm fell, in part tied to targeted job cuts.
According to the firm’s latest pay report, Deloitte’s chief executive of EMEA, Richard Houston, saw his pay increase to £7.1m last year, almost fifty per cent more than the £4.9m he was paid in 2025.
Houston led Deloitte’s UK business for seven years prior to being promoted in June to head his role in the EMEA division, a new entity which oversees Deloitte’s operations in more than 80 countries following a restructuring this year which he led.
As well as Houston’s pay being hiked by almost half, the chief executive was also given a “one-off award” granted “under a long term incentive plan”.
In the pay report, the Big Four firm said the award “had a number of strategic and financial performance metrics”, including for his work for the firm’s broader operations in Europe.
Houston’s hiked pay was 93 times Deloitte’s median pay for its UK employees in its most recent financial year, whilst the year prior it was 65 times the higher.
Headcount drops as bosses paycheck almost doubles
Houston’s paycheck comes as Deloitte’s headcount has fallen over the past year.
According to Deloitte’s latest companies house filings, last year, the Big Four firm’s average number of employees in its UK workforce was reduced by 1,360 from 17,264 in 2025 to 15,904 in the end of the 2026 financial year in May.
In June, the firm sought to cut nearly 200 jobs across its audit business in the UK, the latest in a series of cuts at the accountancy giants, due to low staff attrition.
The firm said it was offering voluntary redundancy packages to a number of employees in response to low levels of staff attrition in its audit practice.
A Deloitte UK spokesperson confirmed as a result of the low attrition rates across the audit and assurance business, “we have taken the decision to offer voluntary redundancy on enhanced terms to some of our people in the impacted areas. We do not take these decisions lightly and will do everything we can to provide support to those who are considering this option.”
City AM revealed in July competitor KPMG, had also offered its UK staff bumper redundancy packages as the firm looked to slash its headcount and trim costs.
Deloitte announced last week it is set to create up to 100 new jobs across the North of England with the launch of a specialised regional deals unit.
Deloitte declined to comment.