Accounting

I really respect PwC for refusing to do layoffs. All the B4 claim to care about their people, but PwC really walked the talk. The reason why staff accept lower comp compared to industry is for the added job security, and PwC upheld it's end of the bargain when the chips were down 👍 None of the "Our Profits, Your Losses" mentality from PwC Leadership that is all too common in much of B4

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I really respect Deloitte🧶 for refusing to do layoffs 😦, only separations/graduations. 👨‍🎓 All the B4 claim to care 🥰 about their employees' graduation👏, but Deloitte really walked🚶‍♀️ the talk. 🗣 The reason why staff accept lower comp💰 compared to industry 🏢 is to work 60 hour weeks ⏰ and then be let go during a pandemic 🤒, and Deloitte upheld it's end of the bargain 🤝 when the chips 🎰 were down 👍 None of the "Our Profits 💵, Your Graduation" mentality 🤔 from Deloitte Leadership that is all too common in much of B4 🤦‍♀️

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PWC9 since no one answered you it's a type of meme where people will take posts that seem like they are overly praising employers or seem like sponsored posts. People rewrite them similar to how instagramers in MLMs will make posts about how much they love their "job".

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EY had no layoffs from Mar-June even though there were plenty of performance based firings planned. They resumed this is July but it wasn't all that different than any other year except instead of some being placed on PIPs, they didn't get a second chance due to this environment. So there were no RIF's at EY. I have been through two rounds of RIF's at EY in the 2000's and 9/11 and the 2007-08 financial crisis, and we didn't do the right thing for our people then, this time they did better.

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You mean “coach out” normal performance ppl?

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We have had layoffs (more than in other years) but masked them as performance related separations. EY and Deloitte did the same, but Deloitte was more upfront about it.

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KPMG's is coming up

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I am just so #pwcproud, I could blow Tim Ryan.

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The reason why staff accept lower comp compared to industry is because we have no choice if we want to be in public accounting we have to start at the starting salaries they give us. I feel like entry level is taken advantage of from some aspects because they’re just out of college and NEED a job, so the firms know they’ll accept any offer for the “prestige” of being at a big 4 or top 10 and can pay them pennies.

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@ PwC 5: “new hires straight out of college are useless.” - 100% wrong statement. They know a lot of technical stuff. If you explain a little bit and show them, most of them do amazing job. Their level enthusiasm and excitement is so high sometimes I take my motivation from them as I’ve lost some of that curiosity as an experienced professional. They aren’t overpaid, either. The good pay and career advancement is what drives them to go to college, get tens of thousands of dollars of student loan and get a degree.

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I can't tell if this is copy pasta or serious...

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I love copy pasta! I’ll throw meatballs in with it and my kids love it. Good suggestion AA1!

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We at RSM didn't have layoffs either, just business need reductions and two rounds of performance cuts. Nothing to see here. Furloughs will be the utilized before any layoffs occur.

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I think that once you are part of the quarterly talent discussions, you’ll start to understand that the performance cuts were just that. The cuts were of people who had been topics of discussion multiple times before.

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This reads like satire...

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It has to be, right?

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EY really has done no layoffs either.

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Also no raises or bonuses. Only getting a raise if you’re being promoted.

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This dude is ODing on kool-aid

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likeuplifting
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Found the recruiter!

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Is this person being sarcastic?

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We’ve definitely had internal layoffs at PwC lol, we’re just better at being sneaky and lying about it

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They’re definitely laying people off. Just structuring it so they don’t need to call it that. Also- PwC has lower comp compared to other public firms! Don’t believe the ‘analysis’ that’s explained to you once a year!

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What analysis do you have?

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I’m glad Deloitte was proactive. I enjoy the feeling of more security now knowing we already got it over with. Feels like a nice buffer, considering the economy could get considerably worse.

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Agreed. Already talks of DT doing the lay offs again in the fall when busy season is over so let’s see

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Kool aid is strong. They had been quasi layoffs at all major accounting firms there is coach outstays pwc which is shady af.

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In all honesty I respect that PwC did this even though in practice a lot of people will potentially get coached out or decide to leave. Ultimately we are in a global crisis that is creating a huge amount of business uncertainty. I think the narrative and the handling of higher than normal amounts of people being on PIPs has been poorly handled. It’s very obvious that this is driven by the economy and not addressing that directly and transparently leads to the situation being personalized. It has absolutely damaged morale. My assumption is that if business improves or remains steady a large portion of those effected will come off the PIP and remain at the firm. I think this is ultimately the “least bad” option when weighed against layoffs, but it’s far from perfect.

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EY 5 I know. I am also keeping my own records now of things I am doing well. Not that it matters bc at the end of day PwC at will employer...Pros of PIP: more time to job hunt and don’t have to leave right away. It is damaging emotionally though. I have things to work on but I don’t think I have performance issues.

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Lots of people getting kicked to 4 and being forced to leave and 5s as well. No layoffs is complete BS

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Honestly all big 4s have done and said very similar things, it’s one thing to be proud of your own firm but no need to undermine other firms’ effort when you don’t have all the details (of course if you’re being sarcastic then nvm)

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When do the layoffs start?

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likesmartupliftingfunny
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