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Yeah, in theory it was performance related but you know how the performance process works at a big firm. There were some genuine weak performers let go and also some good performers that got let go as well.
Um.. i know a few people that recieved 4s and 5s and were let go. Personally i think it has something to do with the new Labor laws regarding OT that took effect on Dec 1. Some salaried workers will now be entitled to OT.
If u were a 5, you must have sucked at interpersonal skills
I think the size of EYs cleanse was large enough to consider it a layoff. From what I've heard there were individuals with no performance issues let go because the firm needed to cut costs.
It wasn't performance related at all Asshole, I was a 5 rated staff in Greenville SC that got laid off, there were over 1500 total in the United States.
PwC is doing a "cleanse" too....new year new me? This is happening in March and it starts with Internal Firm Services. It's rumored 150 EA's in NY will be let go. Is this the beginning of all virtual firms?
Did anyone have something weird happen to their ARMS?
I also know of some that recieved 3s or 2s and are still with the firm. It is still a "who you know" instead of a "what you know" mentality in corporate america.
^get used to it. It's literally been this way for the entire history of man and is this way in every country around the world.
Either EY 5 is a partner or he/she is gulping the kool-aide. It is all about who you know. My manager has a nephew working in his deoartmebt which is a clear violation of EY firm policy that one familyember can not directly manage another family member, but here I am with a worker that is directly/blood related to my manager. (My coworker is the managers nephew. Son of my managers sister) He complains about not having work, then complains about having work, arrives late evey day and is still employeed. So this about performance issues stuuf is utter crap.
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@PwC 1 is correct PwC 2 - Heard this exact news from friend in marketing on Sunday and asked manager who told me it's supposed to be kept on the DL after he heard it from partner last week --- PwC cutting 10% of Internal Firm Services (IFS) nationwide due to utilization and too many people who aren't working full-time. Marketing friend told me they would be notifying IFS in the next 2 weeks if they "made the cut" and if not, offering severance packages. For those laid off, they do have the opportunity to apply to other open jobs within the firm, but apparently they are reorganizing the firm by taking existing 20 markets and merging into 10 markets to get each to at least $1 bil revenue.
I'm guessing this is why they delayed paying bonuses etc in Dec -- but it's hard to say how directly it will affect client service staff; however, if they are going through this process, things must not be going great US wide. 😏
I heard it was ~1,500 nationwide. Like one said above, some of these weren't performance related and left a lot of people confused since there were some that had performance issues that are still with the firm. From everything I heard, it seemed more centralized to the two core device lines of audit and tax but I'm sure there were others hit too.
You can't completely remove interpersonal relationships from business. It's part of human nature.
Not a partner. In fact I doubt I am even buddies with any one.
As for nepotism. Even your spouse can be in same practice but cannot report to the family member unless where one is partner so the person has to be in different market one fso vs commercial.
For your coworker, the deployment messed up but you are open to call ethics hotline or people's consultant if you feel that violations are being committed
@EY 2 - I think suspicion around the labor laws that took effect on Dec 1 hits the nail on the head, since I know assume a majority of IFS would fall into the "salaried workers who will now be entitled to OT" category. Interesting!
Some were performance related.. most of it was due to them over hiring to begin with. You won't have a number for a while because i believe they are still letting people go.
I believe all of the big 4 are going through the same process. Left PwC to avoid that situation and KPMG is having it now too. It's a common theme from over hiring throughout last year
@PwC 1 do you have a source for this or are you just spouting some Tuesday bs to get you through the week? I believe it, just curious.
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