11/10/2025, 9:51:03 pm

BDO Cuts Jobs to Manage Apollo Debt

Auditing firm BDO USA cuts costs due to a $1.3 bn loan from Apollo Global Management, agreed in August 2023 with an interest rate around 9%. BDO laid off dozens of employees and halted non-essential travel to manage the expense. The firm is on solid financial footing, a representative said, despite a client's bankruptcy and an investor class-action lawsuit over the Employee Stock Ownership Plan.