As discussed in this Reddit post and in a few tips we’ve gotten on the tipline received since yesterday, GT US has let some people go this week. How many is unknown at this time, we do know it’s firm-wide.
The person who wrote this says they are (or were) an S3 in audit and utilization wasn’t an issue.
Grant Thornton Layoffs
by u/No-Couple-9881 in Accounting
As usual with these things, no one below the decision makers seems to have an understanding of how decisions were made. This is a good way to breed resentment and anxiety within the firm so if that’s what they’re going for, good job there.
GT’s only halfway through their fiscal year so this doesn’t appear to be year-end cleanup. It could be related to their acquisition spree, the most recent to-be-assimilated entity being Grant Thornton Australia. According to AFR, it’s estimated that one-third of GT Australia’s 1600 staff are in audit which is a lot of bodies pulling onshore salaries. You know the drill.
We’ll update if we get some numbers. If you were affected feel free to reach out via email or text. Tipsters are anonymous blah blah.
