{ "media_type": "text", "post_content": "As I’m sure many of you have heard, KPMG has just announced a reduction in force through a number of all hands calls today. From what I gather so far from colleagues, it appears to be about 200 audit, 200 tax, 400 advisory, 300 support to be terminated by Friday, and then an additional 200 admins to be terminated in the coming weeks.", "post_id": "5f736e58dfed9c0024b37c8f", "reply_count": 73, "vote_count": 65, "bowl_id": "564a5cdb94887803001dd07c", "bowl_name": "Accounting" }

As I’m sure many of you have heard, KPMG has just announced a reduction in force through a number of all hands calls today. From what I gather so far from colleagues, it appears to be about 200 audit, 200 tax, 400 advisory, 300 support to be terminated by Friday, and then an additional 200 admins to be terminated in the coming weeks.

likehelpfulfunnysmart
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Thanks for all the support y’all we really appreciate it. Obviously a really tough time for all professionals this year, all I can say is to take some time for yourself. Always keep an updated resume and keep your head up, but take some time to do your favorite things too. Cook your favorite meal, take a bath, go for walks. It’s been a crazy year, but we will all make it though!

likeupliftinghelpful

Things like this happen at some point in many of our careers. There is never a perfect way for a firm to handle something like this but I have seen my share of wrong ways to handle such matters at one of the firms I was with. Good for KPMG being transparent but they might have been able to make decisions 6 months ago that could have resulted in a different outcome. Clear your head, think about what you want to do next, reach out to your professional network and start looking for your next opportunity. It may or may not be public accounting. Keep in mind that these types of things happen in industry too. I like to think you have more control over your destiny in public accounting but that is not always the case.

likehelpful
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that manager who asked us not to post here is going to come for you

likefunnyhelpful

I’m in shock, disbelief, denial. I understand, but it hit me hard. This is my first time experiencing something like this and I haven’t been able to touch my keyboard. I’m at least glad they’re not masked as performance based separations. I’m probably more selfishly glad (I don’t think) that it’s me. My heart goes out to all my fellow colleagues that are finding this terrible news out today. My thoughts and best wishes are with you, and while I don’t even know how I can help myself right now, I want to help you all as best I can. Please let me know if there’s anything I can do.

likehelpful

This is very sweet 💛

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KPMG - EY just went through this and we were not as transparent. Take time to grieve, get angry, whatever you feel. BUT spend 30 minutes asap updating your resume. Feel what you feel, but focus on your future. We'll be thinking of you!!!

likehelpfuluplifting

In all the years I've been at EY, I've known 1 person or less let go for performance per year. In my community this past month it's at least 8 people. Whatever you want to call it, it's not typical.

likefunny

Kpmg is so transparent with the layoffs. I still don’t know the count of layoff in my group.

likefunnyhelpful

We know that 5% of SMs got the boot

likefunny

Thinking of you, KPMG! Hoping for the best for y'all!

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Thinking of you all. I’m sorry.

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I appreciate the transparency that KPMG is giving you in this unfortunate situation. We had this several months back but Crowe was sneaky with their approach and just added calendar invites the evening before the day of layoffs.

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10% is absolutely wrong for Crowe. It was like 5%. Also, reinstated salary increases and promotion increases

helpful

If anyone loses their job, please reach out to Aprio. You can reach our recruiting manager at Nicole.davis@aprio.com

funnylikehelpfulsmart

Can you tell me how the benefits are at Aprio?

Send them over to PwC! We’re hiring!

likeupliftingfunny

In my market seniors has been forced out

likesmart

Sorry KPMG 😕 have a drink tonight, go for a run, eat some crappy food...feel better.

likeupliftingsmart

Will tell my wife to cook something then. Thanks,

funnylike

Sorry to all at KPMG, thinking of you. Would certainly refer here if we weren’t on a hiring freeze.

likeuplifting

Ugh 1,000 - 1,500 layoffs for 29k US employees is approx 3-5% for those wondering the math.

like

It’s over 1500 more around 2000, we had IT lay-off during the summer, so it’s more 6-8%

likesmart

And that doesn’t include the couple hundreds IT during the summer.

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Did they like announce and send the emails to people all in the same day?

likesmart

PwC 7, it was a little more than 2 weeks' notice as the call happened last week.

All EAs will not be notified until mid October... there is only 300 EAs being cut total.

likehelpful

Basically EAs are going to see a 30% reduction. Each EA will now support 6 partners and MDs. They also have 60 roles opening in our ASK admin group who support people lower than MDs.

Wow. Stay strong, guys.

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What ironic is i just saw an ad for joining KPMG to join tax.

funny

Part of the mystery ...we have new hires starting....

Baker Tilly is hiring in tax.

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Any admin positions!?

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