Are all B4’s taking a hit as bad as KPMG is? A lot of my friends at other B4’s have said they lost a lot less than what we did. Can you other B4 drop below some bene’s you’ve lost,lack of raises, and lay offs in your offices? Want to understand the differences firm to firm.

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From what I gather PwC has handled it the best. Friends of mine got nice bonuses this year, but people have been separated due to performance (non-RIF).

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Trust me PwC has not handled it well. We have just done the best job at lying.

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PwC has been firing people off for a few years prior to COVID so I guess less people to let go now. But they have done performance separations. “No layoffs”. But a lot of our monetary benefits have been cut. No raises. Bonuses I thought were reasonable and rewarded high performers.

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EY is not even giving out numbers and label all as performance based separation. Such a shame.

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Well they did admit that some of the 5% of SM separations were layoffs and not performance

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I'm talking with a midsize and they have so much work and so many new clients after covid. It sounds like companies cut costs by dumping big4.

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RSM 1- no hiring freeze here. On a call today with several new hires in a small office!

Pwc didn’t have lay offs but theres a lot of ungoing speculation that performance based leaves have been handed out in disguise instead. A lot of benefits were cut this is like 80% of what the bowl talks about honestly

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What benefits were cut?

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Remember Deloitte already laid off 5% of their workforce. You’re not the first kpmg

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I mean duh. But I want to understand from an individual’s perspective. In addition to these lay offs, what other benefits has your firm announced they aren’t doing.

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As a middle of the pack performer and also recently promoted, I’m not at risk. But seeing our treatment of others has caused morale to tank. I’m applying to small firms, govt and nonprofits to just get out of this mess. It’s not even about money. Trust broken.

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Not Big4, but perspective BDO did 5-10% paycuts on a rising scale from May-July, deferred promotions, raises & bonuses from August 1 to Nov 1 and raises capped at 3%, if you receive one at all. We did some layoffs in advisory so far, TBD if anything else happens, but have not heard any rumblings on the lay-off front.

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I work for PwC, but I think leadership handled it very well. At the very beginning they said “layoffs as a last resort.” Up to this point, we’ve had no layoffs but we did have the typical performance firings we do every year. Partners took a pay cut. No raises except for promotions. Smaller bonus pool. New hires starting wage was decreased (they did not officially start at the firm until after this announcement, so it is not like they were making money and then are now making less). They got rid of in person events and trainings (I personally really miss this because it’s hard to find time for training now haha). At the end of the day, I’m just glad I still have a job. No current employees got pay decreases. Our bonuses were smaller, but I’m not complaining. I guess they could’ve not done any of that and laid a bunch of people off. I’m satisfied. I realize I can likely go somewhere else and make more money, but what’s the job security like? I bet it’s not guaranteed like it is at PwC.

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PwC is no raises except promotions, annual bonus still given, and mid year promo/manager milestones are not takes away

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We fired six people on my team (10% roughly). No one got raises expect promotees which was between 1-2%. No mid year raises. Raises next year will most likely be the same.

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I think RSM made out nicely..heard they are still getting majority of bonuses/raises just delayed a couple months..or at least that’s what their recruiter told me 😂

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