PwC lays off 1,500 in US assurance and tax practices. I get tax but assurance? The firm cited low turnover rates in the last two years. PwC

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Kind of the opposite from my office and a few others that I've seen, there has been an excess of assurance staff and they aren't being utilized fully, yet tax is extremely short staffed (while still growing significantly) so it's been wild IMO that they are doing tax layoffs right now.

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Maybe to some degree but they don’t go back to India. They stay here forever and have families who never leave

Think they’re motivate to move as much of the audit to India as possible. Don’t really care about audit quality anymore because fines are a slap in the wrist

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Any AC’s layer off ?

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Haha Disney matter 😆😆😆😆

I was one of the 1500 who got laid off, I was told they don’t have a role for me. I know for a fact that my team was short staffed. They’re firing in US and hiring for the same roles in India. It’s just to profit more. I was a part of Assurance just fyi.

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67% of hours of tax engagements are allocated to India at this point. This is a monitored percentage.

What levels are the tax layoffs?

@Deloitte 1, because high performers are not 1 dimension. Someone could be high performer like receiving a 2 all years but never met utilization goals. Or if someone is good on paper for client work but never goes to the office or do volunteering, firm training etc for PwC. We just don’t know what metrics they are using to do layoffs so it’s quite possible some high performers are let go.

We are?!? Yikes

This is insane!! I received a verbal offer on Friday to join CMAAS. Curious why they wouldn’t use Audit vs laying off. Although now concern my offer letter will be revoked

Does that mean the shortage is over?

Where was this announced?

Where was it not announced?

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