Any updates on the Deloitte 5% lay-off? Has everyone affected being communicated yet, or mostly people still have no idea of their future with the firm?

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Maybe since Deloittes FYE came first, they had less time to determine who to layoff (Not so much performance, but time with the firm). Hopefully other big 4 are thinking about layoffs now, and can take the extra time to cut out more of the underperformers and retain quality (even if they have been here less than a year)

likeuplifting

DT has performance year end 3/30, FYE 5/31, bonus and raises will effective 9/1, but delay to mid Sep this year.

I just got laid off from Deloitte. Manager level in Tax. They let go of 5 people in my group. It’s coming...in waves too.

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our partners have taken a substantial cut to avoid layoffs

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I feel bad for the people at Deloitte if it hasn’t been communicated to each person yet. The uncertainty must be painful. Very hard to be productive not knowing if a person will have his/her job at the end of the week

likefunny

D1 same

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Have an update - I just got a meeting invite. I think it’s happening. Eff this firm. Good riddance

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What was the meeting invite like?

It’s going to trickle in throughout the week, some people have already been notified and their last day is tomorrow. Seems to be a lot of first year staff and experienced hires with less than 1 year at the firm from what I gather. The rest of us are waiting to hear if we are safe or not.

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Jesus that sucks. Like you’re a proven factor, I don’t understand how you’re worse than Tiffany who raised money for the golf club that had a single B4 internship as work experience. But that’s life I guess, they don’t want to freak out their recruiting chain.

likefunny

That’s messed up.

likesmart

I’m curious if it is all practices/lines of services/markets or smaller markets/consulting?

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I was assured by someone on here that Deloitte would never have to do this.

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Now you should see how many people make partners this year. That would show you what the trick was.

I have heard nothing. So still have no idea on whether I’m safe or not

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Good luck! No news is always good news!

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People on Deloitte bowl have been posting. Some people have already been laid off and it’s still happening

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Pwc 4, I’m likely getting laid off tomorrow. Good performer. These aren’t firings and I heard it on the call last Friday that they are layoffs with severance and it looks like I’ll be included in that (just received suspicious email). These are not normal times. I recommend starting to contact your recruiter list immediately as a precaution.

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For the people who were laid off, were you on a client at the time or benched?

helpful

That’s crazy! Are you tight with the leadership groups? Partners MDs?

D1 are you okay? I am hoping for the best for you. Please let us know!

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It’s a mix of both. But yeah, also a lot of consulting and we usually depend on that during summer to keep us busy

Update: Got an email for a meeting. West Coast.

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Sorry to hear that.

Word on the street is that promotions will be significantly impacted for promoting to managers and up. Case by case basis

Was told the same. Up for senior manager. Great reviews but the firm is trimming the SM class. Maybe next year!

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I’m sorry 😔

Are they basing the lay offs on whether you have the CPA?

What? Up for promotion still can get laid off?

I know a person getting the axe so it's happening today. Texas.

Service line? Any other details?

EY will start their layoffs July 1

All the firms are top heavy. Partners take maximum cut. How can they lay-off people and not reduce partner comp. really bad planning. I am sure people who are impacted here when they reach a position in their careers where they can make shots - no work is going to be given to these firms by you all.

Is this affecting all lines or service equally? Or is consulting, audit, tax, or internal firm services being hit harder than the others?

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