Deloitte Slaughter, Part II - There’s a new story out of the Deloitte gossip machine, unverified for now. It seems they will be going through another bigger round of layoffs in the fall, once the voluntary program expires (mid-Sept). They already have a couple of scenarios and are populating names in each of these, mostly based on metrics. Anyone else hear this? When will the bloodbath stop...

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My intel, from a good source, is that there is no part II. Of course not saying it’s the absolute truth and some folks may still be let go, but was told that no plans for another big wave under current conditions.

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Yup. As I said, under current conditions. If conditions worsen, hard not to see another wave.

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Also September is conveniently when everyone has zero vacation again.

likefunny

EY1 you get paid out your remaining vacation days

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Maybe just me, but I figured this was going to be the case

likesmart

This is the only reasonable explanation why they would be mandating everyone to use up all their vacations
And if every company is going to be doing layoffs then there won’t be any bad publicity

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Business demand is driving it. I don’t think they care about backlash. They care about their pay outs, and they will let people go to have minimum impact on payouts and future profits. You are only important here till you are billable.

likesmart

Has anyone validated this rumour?

yes, i heard something similar. it's going to be brutal now. A certain fraction will be offered temp lay offs, so they can be brought back as per project demand.

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I don’t even think they’ll offer temp layoffs as an option
I mean they’re going to have an influx of new grads in early 2021 that can easily replace those laid off this sept

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We are the experts of scenario planning:
Response ▶️ Recovery ▶️ thrive ♻️ repeat

likefunnyhelpful

Sorry I was never taught that value 😂 or rarely see it in action

Only know "Make an impact that matters" (whatever it takes )

funny

I heard a similar rumour from a credible source who do not want to confirm 100% either

Next one is after the people year ends which is early September !!!

Remember talent reviews are yet to complete and performance layoffs are yet to happen !

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Human capital is doing its talent reviews next week but only discussing promotion candidates this time

I'm assuming there's a round after this ... But no one knows

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Rip

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I wouldn’t worry unnecessarily. My guess is that this rumor (and I’m not there so it really is a guess) could have started with people doing scenario planning. Let’s hope that the worst scenario doesn’t materialize and things pick up again soon and we can start the hiring cycle again.

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I’m posting as Accenture because I work here, as I said I’m not there and guessing. Regardless of where you work these rumors are always worrying and was trying to offer a reason as to not automatically jump to the worst conclusion.

As a warning, EI is only 55% of your average weekly earnings. So if more time reductions are offered, and you're worried about getting laid off, don't. It'll just mean your EI post layoff will continue to get smaller and smaller.

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The maximum earnings for EI is 54k anyways. Most are above that even with the work reduction https://www.canada.ca/en/employment-social-development/programs/ei/ei-list/ei-employers/2020-maximum-insurable-earnings.html

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Is there any word on if there are impacts to incoming grad offers?

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Why am I not hearing similar trends from my Deloitte friends in the US?
Did Deloitte Canada take a bad hit due to Covid-19 or were there signs pre Covid-19 as well?

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its because of the oil and gas sector

I actually think that they won't do a "BIG WAVE" because they have already received backlash from the first, unexpected wave.

But - you might see people here and there going. Maybe they will take other measures e.g. forcing everyone to reduce pay, making people go on leave etc. etc.

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Is this USA or Canada?

We are in CAN bowl

likefunny

That’s troublesome lol. Wonder how true the assigning names part is

Is this still true?

Because it is. In September. When it’s cheaper and they have a better idea on impact.

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