The financial times reports this morning EY scraps US holiday bonuses as economic outlook darkens. Is this true?

Big Four firm says ‘changing environment’ will result in suspension of merit payments this year

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Hard to scrap something that has never existed. EY has never given holiday bonuses.

likesmart

How much money does scrapping a nominal bonus for top performers even save for a firm that size?

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Everyone acting like they took away something we all got every year 😂. They did it for 1-2 years over the holidays and it was a small bonus. The “big” bonus is in August

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Ok

funny

B4 will use any excuse to reduce bonuses. Bad year? Bad bonus. Best year ever? Bad bonus, to be conservative. All the while, partners taking it in to afford their divorce lawyers

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You’re right, I forgot that my time in consulting was different than your staff aug cases, my apologies

helpfulfunny

Or they are cutting costs for the spin-off but don’t want to say that

I think all of the big 4 don’t have large calendar year end bonus

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“Got to boost that EBITDA for the floatation.

Remember, heads partners win, tails staff lose.”

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Yes

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F

funny

A&M fiscal year-end bonuses are still strong if anyone wants to come on over :P

uplifting

I’m not sure what A&M, Inc. is but that’s not the legal entity most of us work for. I believe we work for A&M Holdings

Is this because of the “recession” that was supposed to happen back in July but then the economy added two million jobs and the GDP started rising instead?

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Likely communicating and level-setting they’re not getting big bonuses when the time comes.

Most likely it was announced last Feb to stem the flow of people leaving the firm. That has slowed down so the firm no longer feels they need to give the bonus to keep people from leaving since the market has cooled

It backfired; headcount is too high. The wheel’s been yanked in the other direction.

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