Saw a friend’s friend was laid off by EY New York office. Anyone know what is the updated policy of EY regarding covid19, will large lay off going to happen soon?

likehelpful
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We all need to be careful about the use of the term "layoff."

Many people have been let go by many firms in the last month or so.

I'm some cases these have been the result of layoffs. However in most cases these were not layoffs. Coming out of busy season most firms let go those who are under performers.

When a firm let's go one or a few people that is not a layoff.

The use of the term layoff causes panic and fear. While it is possible that some firms will eventually decide to evaluate layoffs, it will not be every firm. And just because a firm let go 1 person it is not cause to suggest there are layoffs.

likesmart

I totally understand, you never want to see that happen especially at a time such as this. Being out of work right now is not a good thing. Sounds like this person might just not be cut out for accounting. Or maybe there is something going on with them personally. Hopefully as someone stated earlier, EY is holding off on letting anyone go till June 30. Hopefully this situation will be better by then. Maybe you could try to work with them between now and then to see if they can improve?

P1, thank you good fellow for speaking the true words. We shouldn’t mix those let go for poor performance

likesmart

We are all nervous and things are uncertain everywhere. Heck, partners are nervous too. Everyone is. This is all messed up. I realize some people will lose their jobs but hopefully in our profession its minimized.

like

Thanks for your reply and sharing your feelings.

Per firm leadership there isn’t supposed to be any layoffs or performance related firings until after June 30, so I’m very surprised to hear this.

like

Agreed! Very surprised. Maybe something to do with the cheating that Kelly Grier mentioned on her last few all hands calls??

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