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February 7, 2023

Armanino Employees Were Made Whole For the Holidays

According to a tipster, here’s the latest news regarding employees getting their money back at Armanino, the 21st largest CPA firm in the whole damn nation:

Back in April, everyone took a 10% pay cut as a result of COVID. Yesterday [Dec. 17], our CEO Matt Armanino announced during our fourth quarter webcast that the firm is going to pay us that money back before year end. Armanino is crushing it compared to our peers.

Crushing it, huh? How do you know Wipfli (No. 20) isn’t crushing it? Or Andersen (No. 22)? Or Citrin Cooperman (No. 23)? But we like your exuberance, tipster.

Not only did Armanino employees lose 10% of their salaries as part of COVID-related cost cutting, but we were told by sources that 8% of the firm’s workforce was let go on April 7.

We know it’s been a tough year for most accountants everywhere, so congrats to those of you at Armanino for hanging in there and riding out the storm. Seems like y’all are ending the year on a positive note.

Related article:

Layoff Watch ’20: It Has Been a Terrible Tuesday For Some Folks at Armanino

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