What happened in BDO? My friend said everyone there is looking for jobs now. Besides cost cut, what else they did

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BDO is going to work people to the bone and then announce another round of layoffs after the September 15 and October 15 deadlines. It’s so obvious.

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BDO2, Crowe will be in a lot better shape if they don't do the bogus ESOP partner bailout deal for massive debt. Apollo has no incentive for BDO to succeed, if they default on the loan they have recourse. It has to be the dumbest way to involve PE in accounting that we've seen so far.

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I heard no bonuses at all, no raises until November
Last year at the promotion cycle only raises, no bonus - so 2 years of no bonus - ppl are dipping

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Who is we? Which group and business line?

It's incredible this didn't happen sooner.

This place does not treat people as humans, not even close.

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Let’s be fair, all accounting firms nowadays are like a race to the bottom. If BDO is extremely bad, then that place must be horrendous.

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Friend said BDO’s revenue is good, growth looks healthy, but they could not afford the ESOP debt somehow. Do not know the logic behind this, how could this make sense?

TLDR - Boomers got the money 💰🤑💸 — the peasants got left holding the bag full of poop

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