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So if I'm correct, PwC is the only Big Four that hasn't done a huge round of covid layoffs so far?

likefunny
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Can’t call them layoffs if you refer to them as “performance related separations”

likefunny

People don’t get severance when this happens, right?

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There's still time for layoffs.

likeupliftingfunny

Large amount of “performance based separations”

like

We have a full fiscal year coming up that will be affected by COVID. We haven’t seen anything yet!

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More “performance separations” than ever. Same thing as layoffs, just sugar coated. They just didn’t have the guts to call them what they are like Deloitte and KPMG did if I recall correctly. Former 1s became 4s and 5s and told to go.

likefunny

I find it really hard to believe someone would go from a 1 to a 4/5 without something happening...

As I tell my staff, good job not getting fired today, but don’t worry, there is always tomorrow.

likefunny

Not sure about layoffs, but PwC is hiring in the assurance/audit practice.

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We are in tax as well.

Officially

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I haven’t personally heard of any performance based separations post-Covid. So, I’m not sure if they are on the rise in the Southeast market. Maybe post deadlines? We have had a few people quit.

PwC is biggest liars! Claimed no layoffs then had mass “performance based” exits. Now they are exiting out partners. I have seen 4 on LinkedIn this week! A couple before age 55. Why would someone leave before pension eligible? Must be forced - given a deal they couldn’t refuse?

PwC7 why would they let go those who can grow business? Clear sign they see less business to grow! IMHO the last people you let go are those who can generate revenue and sales. Tim got elected on promises to raise partner share price. When you fail to grow revenue (numerator) you have to decrease the number of partners (denominator) to move the share price. Sad thing is this isn’t a Covid alone issue. In 2019 PwC had second lowest revenue growth in top 25 accounting firms. Covid only made bad way worse!

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