Are we headed towards a recession? PwC seems to be cutting costs and I've been hearing of layoffs at the other Big Four.

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No, that's extrapolating a lot from a little. All of the Big4 bet on huge growth and hired for that growth leading to too high of a headcount even with close to double digit growth. None of the big 4 firms have had a true layoff, its been closer to the GE principle of staffing.

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Our firms tend to expect a lot of growth over any initiative. So annually they hire more than they end up needing and fire people because of budget issues. To think we're literally all accountants ...

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I'm not an accountant. I'm in advisory and we are so understaffed that we can't hire new people. We have to find internal folks but they're mainly unqualified.

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@PwC2 and anyone who is qualified chances are their current teams won't let them switch either.

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"...extrapolating a lot from a little." Is literally the only reason I came into here.

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It doesn't mean they'll be spending money on public accounting

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Advisory is where they expected the huge growth and only got good (but below the insane expectations) growth. I work in IT Risk so we do both audit and advisory - all of our people want to go advisory but I don't think the staff realize how unstable advisory can be.

If Trump's tax plan gets approved it will be an economic boom. Corps will go nuts with all the new cash coming in

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