Grant Thornton, a major accounting and advisory firm, is cutting 350 jobs from its US operations, representing about 3.5% of its workforce. The layoffs, which began on Friday, span advisory, audit, and tax services up to the level of managing director. The decision is based on projections of declining business conditions and a possible economic slowdown, ahead of a major restructuring. Despite the layoffs, Grant Thornton states that it continues to invest and grow its team in select business segments and is on track to deliver another fiscal year of strong performance.