Ernst & Young unit to boost Philippines workforce, office presence

MANILA, Philippines — A member unit of the global network of multinational professional services firm Ernst & Young is planning to expand its operations in the Philippines, almost doubling its workforce and broadening its office footprint in the medium term to support future growth. 

EY GDS location leader Denchu Jose Decino said the company currently has around 5,500 employees and that the expansion would accommodate rising demand and broaden its operations in the Philippines.

“We are also looking forward to the future growth, from where we are to about 10,000 in three to five years,” Decino said during a media roundtable at the Makati Shangri-La Hotel.

Decino said EY GDS is temporarily operating out of a co-working space in Cebu but plans to open a permanent office by May next year as part of its broader growth strategy.

He noted that while Cebu is part of their expansion plan, the company’s main office remains in Taguig, which continues to serve as the hub of EY GDS operations in the Philippines.

EY GDS Philippines consulting leader Raymond Garret Go attributed the planned expansion to the strength of the Philippine talent pool, which he described as world-class and increasingly capable of handling more sophisticated work.

“It’s really the talent base we have here. So, our talents are world class so they are able to do the same work that someone from, say, high-cost countries can do,” he said.

He noted that outsourcing to countries like the Philippines and India used to be limited to “hands and legs work” or entry-level functions.

“But over the years, we’ve proven that we can take on really complex types of work,” Go added.

Go also pointed out that EY is a $50 billion global business and that the firm aims to double in size in the coming years, a goal that also drives the expansion of its delivery centers, including the Philippines.

Meanwhile, EY GDS Philippines assurance leader Karthik Bhaskaran said the firm sees opportunities to expand the scope of its core services in the country.

“The service line core will stay but the level of services we are able to grow in each of these will start expanding,” Bhaskaran said.

“For example, the service line is assurance but the sustainability efforts and the work that we can do. The Climate Change and Sustainability Services, as we call it, is an additional service that is now coming to assurance,” he added.

EY GDS operates through four main service lines, which are assurance, tax, consulting and what it calls as the EY-Parthenon.

EY-Parthenon, the firm’s strategy and transactions arm, helps organizations with business planning, restructuring, and mergers and acquisitions.