FTI Consulting Cuts 4% of Staff, Slashes GAAP Earnings Guidance
Company Background
FTI Consulting is a Washington, D.C.-based expert firm serving clients in crisis and transformation across five segments: Corporate Finance, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications. With roughly 8,200 employees in 32 countries, it generated $3.8 billion in revenues in 2025 and is approaching a $4 billion annual run rate in 2026. The firm's market capitalisation is approximately $4.9 billion.
For the better part of two years, FTI's reported results have been weighed down by a severe dislocation in its Compass Lexecon antitrust economics practice, which management credits with suppressing overall EBITDA by roughly $22 million per quarter relative to historical norms. That drag appears to have lifted in the third quarter of 2026, when Compass Lexecon's contribution swung from a $4.6 million Adjusted EBITDA loss in Q3 2025 to a $14.0 million gain — a swing management explicitly flagged as the resumption of FTI's pre-disruption growth trajectory.
The company also changed its chief financial officer in May 2026, installing Eun Angela Nam after the position had been held on an interim basis by Chief Strategy Officer Paul Linton. The restructuring announced in the third quarter — the largest since CEO Steven Gunby took office more than a decade ago — was disclosed and executed on her watch.
What Was Disclosed
Roughly 330 employees — approximately 4% of a workforce of more than 8,200 — were terminated as part of a plan the company describes as designed to "align staffing with demand." All affected employees were notified by October 29, 2026, though due to varying notice periods by geography, approximately two-thirds of those impacted, or 230 people, remained on the payroll through the end of the third quarter. The remainder are expected to depart by year-end.