My first few years in accounting it seemed like there were never layoffs, now it seems like every month a firm is doing massive RIFs. Is this still a result of over hiring after COVID or is this just the new normal?

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This is the result of moving work offshore. None of the smaller firms are doing RIFs

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aprio

In public accounting some has to do with lower levels of attrition than usual (tax and audit) and some is less consulting work. It isn't a new normal post covid, it is economic cycles. Don't be the bottom 20% in realization.

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I have worked in 2 large industry firms over the years and we never had layoffs in accounting or tax . Time to leave public accounting

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It is driven by offshore trend in mid market cpa firms

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None of the RIFs are massive. Most are specific to a region or service line too. Many reasons why this is happening. None that should be overly concerning. 1- firms did hire up based on expected growth that didn’t pan out (all big 4 were under growth targets). 2- lower % of voluntary terms means firms need to do higher involuntary to keep the flow of new hires coming in (can’t stop hiring bc we need people going into the industry). Firms generally assume near 20% turnover annually.

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I agree that many of these layoffs are a result of larger corporations moving work offshore. Companies who are not laying off might not be hiring either. They might hire a few contractors until the revenue projection improves for 2025.

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RIF is due to low rates of attrition, KPMG just announced the 4% layoffs due to this

New nirmal

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How is the job security at Delta Air Lines ?
Do they layoff frequently?

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Please help him with referrals.

Correction: TC 51.3 has 15% variable.
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#mba #marketing #branding #layoff

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Any word on layoffs at JPM?

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So, lay off until the pandemic blows over.

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