Rumor Mill: KPMG Layoff D Days

Posted on by Caleb Newquist

A little follow-up from our request for the latest on highly anticipated post-September 15th layoffs. Here’s what we’re hearing:
Sources and some comments have indicated that the dates to be wary of are today the 16th, tomorrow the 17th, next Monday the 21st, and next Tuesday the 22nd. The word is that these will be tax and advisory practice cuts only.
KPMG did not immediately respond to our request for comment on these dates. If you have specific information on your anything going down at your office send us the scoop at tips@goingconcern.com.

Related Posts

Big 4 Refugees: Where Are They Now? Are They Still Miserable?

Unless you’re completely illiterate, you’re aware that we cover lots of news on layoffs and exoduses here at GC. Layoffs seem to be more of ’08-’09 trend while this year the exodus seems to be en vogue.

That being the case, some of the people that you knew while they were in public accounting have completely disappeared never to heard from again. Those of you still at the mercy of the billable hour might assume that these refugees are loving life in their new jobs – working 40 hours a week, making far more money and seeing more than an hour or two of sunlight on a regular basis.

But do these ex-Big 4 and public accountants really have it better? One reader wonders aloud:

Something came to mind recently when talking to my ex-Big 4 friends, who were laid off in the mass curling about a year ago. Being someone who was laid off by a Big 4, I somewhat have to agree and feel the same way. That is, I have heard from so many of these friends who hate their current jobs, and considering quitting. Even more are thinking about going back to school. So I wasn’t sure if this only applied to my friends, or is a general trend among those laid-off from Big 4s.

So I thought it would be interesting in the thought of other people who were laid off by the Big 4s. Where are they now? Do they like their jobs? Or do they feel the same way? If they don’t like their current jobs, what are their intentions? And maybe even the question of whether they would consider going back to a Big 4?

Lots of questions in there, so it’s really a grab bag. Jump in on whatever applies to you – headed back a life or Ramen and frozen pizza to get at Masters or PhD? Still glad you escaped public accounting with your sanity intact? Thinking of – gasp – going back?

Firms are definitely looking for help as evidenced by the pleas by PwC and Ernst & Young to their current employees to refer everyone and their dog for possible employment, so hey, it’s an option for those that feel that the non-Big 4 grass is faux-green. Discuss.

Higher-ups at Deloitte Aren’t Sure Why Employees Are Still in ‘Shock Mode’ From the Last Few Years

All the good times at the Deloitte – Jim Quigley on the teevee, surprise raises, leaving PwC in the dust – hasn’t gotten green-dot morale to acceptable levels.

Accordingly, some of the senior partners in the advisory practice have taken it upon themselves to remind everyone how things are turning around.

From a green-dot familiar with the situation:

There has been an up-tick in senior partner communication recently – mostly in the form of mass e-mail communications, published “Your Questions Answered” videos and in-person “Straight-Talk” sessions – seeming aimed at reassuring the masses that Deloitte’s on its way to the promised land. The message is pretty clear that we’ve survived the recession, are hiring like crazy, are bringing in new business at a solid clip and that we’re spanking our competition (i.e., need to look into the rear-view mirror to find PwC and gang).

This, of course, is in contrast to what we in the trenches feel; that our compensation isn’t mirroring our level of output, that we can’t staff engagements because we don’t have enough resources and that all of our friends are leaving for our competitors. This disparity is acknowledged by the partnership; and at least at one straight talk session, we were told that they can’t figure out why we don’t see the light. It was then proposed that we’re still in “shock mode” because of the last few years; but this observer thinks it’s more that we’re working so hard to produce results for the partners that we can’t see the light because the only free time we have is the few hours of twilight that exists each day – and that’s for sleeping (or other creative stress reducing activities ).

Btw, not sure what you’re hearing; but in my group-region alone, I know of 8 people who have left in the last month (the group-region is about 120 people).

Okay then – so it boils down to either being in “shock mode” or your terrible attitude. Share your position on the matter and what camp you fall into below.