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Send them to FS tax plz
The people that didn't get laid off are now scared their job is in jeopardy and have started to leave on their own.. This will cause the firms to be understaffed and even more overworked the coming year 😞
Heard turnover has been less than budged - right sizing is likely the biggest driver of the layoffs. Although, I do think there are headwinds ahead for the US economy.
Could it also possibly be the major increase in use of offshore teams (mainly in India, but also Philippines, etc.) over the past few years..? They terk our jaybs!
Over at Deloitte, we've been told it's as simple as more people stayed than the business model allows for. Hence, the need to fire some employees to keep up with business model projections. For whatever reason, voluntarily leaving the firm was far less than in prior years which we were told led to the firings.
^ I disagree. Mark Sanchez is still a starting QB. No company should be allowed to fire someone while that is still the case.
For once I'll say I'm glad I'm at a local firm. Such things have never happened here in our history. 😏
Supposedly some under-utilization out there, which will blow for the rest of us if there is an unexpected exodus out before busy season
Not for sure what office you are at but we are mass hiring in Dallas #sucks2suck
Nothing of the sort is happening in GT advisory...at least that I know of.
It's KPMG... You already do suck. The only reason they exists is Big 3 would mean oligopoly.... And that is no good.
I know at EY they anticipated winning all these massive clients and audits, but a lot of them didn't pan out so they're way past overstaffed at a lot of levels. I know in my group not as many people quit as they had anticipated either. No point in paying people to sit around.
Really? Which office?
I work in NYC. I haven't heard of the layoffs but that's what's going on in our market.
Market wise it's because of energy and banks (hence Houston and NYC layoffs). But EY1 also hit another big element of it, as did PwC1.
I pray not...I already worked my ass off to get an "exceeds expectations" rating. I don't a repeat of last years working hours
It's a combination of not a lot of people quitting and many clients consolidating and losing clients. There were too many people unassigned and not everyone was needed
^gets paid the same as you do to do the same work, stop drinking that 🍷
^but they get shit on more than any other big 4 - sucks to be last
Does anyone know if this is happening at Crowe? Specifically in the Chicago market?