Official EY Layoffs Thread
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Hi fishes,
Any guess how many people are laid off from Publicis sapient in past few days? Really scared for my future as I'm also under probation period and deeply regret for my choice of joining this firm...I don't understand why were they recruiting peeps when they were short of projects. Publicis Sapient
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Anyone worried about layoffs?
HCB layoffs on the horizon
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Hi Sharks
Please let me know following
What salary to expect for 16 YOE ,for Chief Manager 2 (Information Tech) post at ICICI
What is % of CTC is performance bonus for CM2 post?
If I joined in Jan , will I get a bonus in Mar?
Usually how much % do they give for a generic rating? ICICI Bank HDFC Bank Limited Kotak Mahindra Bank Bank of America Bank of America JPMorgan Chase
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PSA: Stop making a pissing contest out of working late.
I passed my final CPA exam!!
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EY 4, I'm in the SE Region. Some of the people that got let go were a complete shock. Highly rated, well liked. Others were obvious low hanging fruit, but my staff was/is excellent.
They increased hiring significantly at the staff level the past few years but didn't increase revenues at the same rate. In order to get a higher number of staff, they took from a lower rung of candidates than they normally would. Two years later your left with folks that need to be cut, so they get rid of the low performers that they probably wouldn't have hired in the first place under normal circumstances.
So are these EY people getting severance packages when they are getting laid off?
I heard from a good source that three or more Dallas assurance staff 2s were let go yesterday. They were fully scheduled and had 3 and maybe 4 ratings.
The TDD from Chicago is in meetings all day today. Looking like chi will be seeing layoffs too
Sometimes the truth hurts. What EY16 said makes sense. Maybe not everyone let go was a low performer, but I'd bet that if you took all the people laid off, majority of them were in the bottom 25% of performers on their reviews. This is what happens when layoffs come. Do you all really think they lay off the top 25% of performers and leave the bottom 25% with the firm? Of course not. When you have mass layoffs like this where you need to trim your workforce you generally start from the bottom and work your way up.
We see this every 5-7 years or so. The firms massively over hire, don't meet their revenue growth figures to maintain the workforce they've just hired, and have to trim down in order to control expenses and for the partners to not take a decrease in their take home. Same situation every time, like clockwork.
Instead of laying off people, EY needs to attach the real offenders, the Partners and there ridiculous expenses.
Layoffs in the west confirmed
Does EY give some sort of package when they fire you?
EY 3, what office or region are you in? I'm sorry to hear that.
Midwest is next.
Yes, same, EY 6. I'm in indirect as well. However, these poor now-laid off auditors were approaching busy season as well.
And all of this when the stock market is at an all time high and unemployment is at a low since 2007.
Don't want to get too specific but Southeast region
This sucks, sorry to the folks going through it
Minneapolis and Chicago
Nice troll, fishbowl
^ Deloitte went through this August / September. Wish everyone finds work quickly.
Have to think if they happen today. They will happen earlier, since everyone leaves early on Friday's.
@EY15 that's bad news
We had a meeting with Dallas tax today and they promised us no layoffs. I am still holding my breath.