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How does severance typically work when you get fired? Is it a lump sum?

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I think you either choose one lump sum or a fixed amount weekly for the rest of your life

likefunnyuplifting

Lump sum and they tax the hell out of it

likesmart

Depends on the severance and situation. Can be lump sum or ongoing salary for several weeks with conditions. # of weeks is usually based on level and time with company. Conditions can sometimes be until you find a new job or if you do find within the number of weeks you’ll have to forfeit the ongoing severance.

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How are McKinsey and other MBB firms doing? Any layoff/furlough in any department?

likehelpfuluplifting

Looking at the way people are laid off, utilization is just one part of it. It's so hard to pin point what is (proper consultants let go from projects, etc..)

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Was lucky to get a job shortly after being laid off. Work’s not hard but feeling burned out cause of bad process, meaningless jobs on top of the pointlessness of everything happening. How you coping?

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KPMG announced no 2020 layoffs, but at this point, has any other firm provided this or a similar plan forward to protect employees during these times?

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I found out a work friend got fired 😭😭😭

There is truly nothing like going through the shock of layoffs and then seeing your closest coworkers still here at the end of the day. Hold you peeps close today folks ❤️ 😔

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Were there a lot of layoffs only at EY or at several consulting companies?

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Honestly how hard is it to get fired in public accounting. I feel like i struggle sometimes and I can’t complete my tasks in a timely manner. Definitely can see my annoyances on my manager face.

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