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Chief
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EY is currently the best. Had the strongest balance sheet and contingency planning to avoid any layoffs. 🙃
They went through old emails and found people were emailing answers to each other. Even if one wasn’t the sender and even if one didn’t use the answers they were fired because they they didn’t report it.
I think that KPMG handled the best way possible under the circumstances. KPMG sent Out an important invite for a call where the employees were notified that there were going to be layoffs and pay cuts and that all of the individuals affected would receive an email within 2 hours with details. Then a higher up sent and email at the end of the 2 hour period that all notifications had been sent out and that, if you did not receive a notification, you were not affected. Given the difficult environment and the fact that the companies are going into survival mode, I believe that KPMG did the best job being being transparent and respectful. Obviously, this is a really tough situation for those who Were laid off and I really hope all that they reposition themselves back in their careers soon.
On the other hand, I think EY is doing the worst job it can do. The firm continues to lay off people and insist that those are all performance separations. A large number of individuals affected by the so called performance separations were never notified that they were low performers. Also, EY started to look into all the petty stuff it can find to make cases performance separations and passing on promotions. These petty stuff are late time sheets, late training, etc. I am so disappointed with EY because EY is just not transparent. In my opinion, EY would have been much better off just being upfront that there would be layoffs and disclose the criteria used to determine the lay offs. As far as promotions go, I think they would be better off being upfront that given the environment, there would be a limited number of promotions and then promote who they think should be promoted under the circumstances.
I think we also cheaped out on severance. Seems like most are doing 1 week for every year, minimum 4 weeks + $1,000. I've heard others doing + $5,000 or + 10% of salary. Much more generous that our $1,000.
Definitely not EY. Can you move your gun off my head now HR?
What layoffs at EY 😉?
Playoffs? We talkin about playoffs?
deloitte? transparent, up front, and timely (for unemployment). no question tho EY is last
Deloitte getting some heat for taking a month to do layoffs, but I know I’d rather have a months notice my job was on the chopping block than be told I’m safe - only to be canned shortly thereafter. At least with the former I can plan accordingly.
Can’t imagine anyone other than EY handled it the worst but these responses should be entertaining
I think kpmg handled best, but I also wasn’t laid off - maybe there’s a former KPMGer that’s more qualified to speak on our behalf?
Why is there a prize for best layoff? Can’t we all just agree that layoffs are awful?
Chief
As someone still employed at kpmg, I think we could’ve definitely done better with two things:
1. Actually telling people lay offs will be happening. We sort of told people using ominous euphemisms
2. The actual communication (which I understand the other firms were not listening to) was not great. Partner dialed in 5 min late for a call that took all of 8 minutes. The two hour window definitely gave people lots of anxiety. Some people did say they were blindsided
Now I don’t know if that makes us the worst in terms of handling it, just throwing some perspective on why KPMG folks might not be thrilled either
I think KPMG and DT were the best. At least they were honest and laid people off. EY and PwC tried to keep face for their clients. When you are looking for a new job, it’s easier if you were laid off than let go for performance.
I'd say KPMG handled the layoffs nicely while EY and Deloitte both handled them poorly in their own respects
In my group/office, no partner came out to discuss these so called performance base separations and how they affecting the morale. Obviously, I am scared to ask questions as I may be the next person to be separated. Everything is so quiet.