{ "media_type": "text", "post_content": "Why does PwC's severance package suck so much? I've never been through something like this previously, no I guess I have nothing to compare it to, but everyone who has keeps telling it's insulting. SA", "post_id": "57731f8cc0ef050e002769ae", "reply_count": 29, "vote_count": 2, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Why does PwC's severance package suck so much? I've never been through something like this previously, no I guess I have nothing to compare it to, but everyone who has keeps telling it's insulting. SA

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My mom literally said to me "you didn't get laid off you got fired" because in her eyes layoff means a couple months of severance

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Garbage

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PwC is not giving good severance because they're still trying to convince everyone these aren't layoffs... Lol

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Right, back to the question of how this is spinner. Again, I've only been with the firm for 2 years, so I don't know how much volume there is - but it does seem this year that it's rampant, and despite the claims that they are being just "more competitive" it is just because the business shrank and they were over capacity, so they had to pick who would stay. Honestly question, how are those things determined? Halliburton "laid off" a bunch of people last month because they had to cut costs, business wasn't BOOMIN. They had to pick who was going to stay and go. Same with PWC isn't it? This is so ducking conflicting

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Oh yes, the koolaid drinkers lol. It's ok, that's how you advance. And FS had their own growth goals per the presentations I've seen (the same ones with accelerating through the turn or whatever) and it was 20% year over year and become the first billion dollar advisory vertical or something. Every time I've seen him speak he just bashes the other verticals. But who's laughing now lol. I don't know if they didn't account for the fact that all recent growth was a result of mandated regulations (which are now ending) or just thought we'd be able to sell a bunch of digital work that the banks don't want to spend money on after all the risk/reg... But the growth goals were very unattainable

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WOW it's only 2 weeks pay???? Insanity

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EY 1 either they're lying to you or they included the cashed out PTO in their calculations

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Ok EY, well that's not really helpful or applicable ...

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I thought 8 weeks was common practice

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"How's business?" "BOOMIN" - not PwC But on a serious note, everyone I've spoke to since cuts have not been this bad since the last recession. It's not even the economy as much as it is the aggressive growth goals and over hiring, which is why PwC is so afraid to call it a layoff. I was talking to some people who have been at the firm 5+ years and they all say that in FS at least, the culture took a nosedive when the new leader (race car driver...) took over. It's now a culture where bottom line means everything and people mean nothing

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No it starts with a D. You will only know if you're in FS from all the bullshit race car analogies and the time he showed a video during all hands of him in a racing suit.....

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LOL it was great, probably the best/worst thing I have ever seen in my life. During an all hands call back last winter they played a clip of him at the new partners meeting from last year where he came out on stage in head to toe race car gear. It's for his analogy of "accelerating through the turn" whatever that even means

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PwC4, um no was never at the firm that long. 🙄 I'm just saying people told me their vacay cashouts were 2-3 months. I would not know any better.

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What is the package?

It's 2 weeks of pay, and cash out of your PTO.

It's only 2 weeks pay if you have been with firm under 2 years. Then it's an extra year of severance for years of service up to 6 weeks. It's in your job offer contract if you still have it

Guess I should have read more into that. Wow ya that's garbage.

It was in their special projects group in SC.. They operated differently than the rest of the firm at the time

If you got let go for performance reasons thats pretty reasonable. If you were layed off then it's pretty bad.

Pwc2 I don't know who the race car driver is... Does the first initial start with a M?

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