Deloitte tax projecting double digit (percentage) decrease to top and bottom line for FY21 - at least our office / region. Based on that, layoffs seem necessary. Fortunate that the folks laid off hit the market first; if the revenue decrease is truly that significant, have to imagine all other firms will be making the same difficult decisions.

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Maybe if they stopped offering a partner pension they could limit the bottom line losses. In Phoenix Deloitte has had more layoffs than ey and PwC combined... what an embarrassment to the accounting industry to always be laying associates off without giving them a chance.

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PwC is projecting the same drop (actually I heard more than the 13%). Difference is pwc is making partners take almost all of the hit while DT is doing massive layoff.

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What region and service line? Source???

smart

GT, yes even compliance

How is it possible to have that big of a drop? What is the mix of work? All consulting?

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It teaches me how we are always better protected to diversify our portfolios no matter what it is.

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I am really curious too - which region is this?

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I assure you we aren’t budgeting for a double digit top and bottom line drop in tax.

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I heard 13% revenue contraction at the green dot level. Not sure about earnings

50% consulting revenue will do that to you. Deloitte is a consulting firm that does audit and tax.

Actually the partnership units in Deloitte Tax are only paying close to $900 per unit versus close to $1000 per unit as was projected throughout the FY so there is a 10% cut in take home.

So the 1000 per unit is more like 800?

Actually have to disagree with op. Those people are not so fortunate, many firms have a hiring freeze.

I am soo glad I didn’t end up at Deloitte. What an embarrassment to immediately have layoffs when things begin to go south. Even local firms are laying off less then you. Any thought about putting some money aside for emergencies like this?

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