According to multiple tipsters, BDO USA is majorly tightening the purse strings ahead of its December year-end.
Let’s start with the first tip we received yesterday:
Panic setting in, not meeting budgets. “Extra costs” being suspended. No holiday party. No coffee meetings. No non-chargeable costs.
Another tipster passed along a Fishbowl post confirming the above tip:
We have some more info about BDO’s budget struggle to share but have been asked to sit on it for the time being, will drop that as soon as we’re able to. If you have a tip about happenings inside BDO, you can reach us via email or text. Tipsters are anonymous, always.
That ESOP interest rate dragging on things?
Yeah blame leadership and old greedy partners who wanted to get bought out right away for that idea
You nailed it.
Good for BDO! Leaders in general dread these parties as the stupid get together and ruin the experience for the well-mannered. I am fine in the managers and partners have a Holiday party and the Associates have their own pizza party. The associates take leadership for granted and have no utter clue how to critique leadership. Word to the 2nd year associate: keep your trap shut until you can think outside your own skin.
Keep practicing that English
I think the bigger deal here is cancelation of travel and small perks like coffee. I get that it gets abused at times, but this just such a PE thing to do. Cost cutting at its best ( or worst). Holiday party – this is less about the party and more showing your people that they don’t matter.
P.S. to Anonymous on August 30, 10:01am – please use proper English. Otherwise you are just a troll and not a good one either.
Damn what grinch!
Wow, old guard “leadership is better than you” and “let them eat pizza while partners get six figure bonuses” mentality alive and well in you. Tell me you have zero respect for employees without telling me you have zero respect for employees. And by the way, those employees are the reason management gets bonuses, just a reminder.
How much of their total expenses are these items? Are they just trying to bump the bottom line for a sale? BDO seems to have been very quiet on the M&A front after going gang busters pre covid.
I’ve been told by partners/ex-partners it’s nigh impossible to do big M&A transactions with the ESOP arrangement they currently have with Apollo and that’s why there hasn’t been much on that front. That happened in 2022.
How about laying people off on promotion day?? That was a new one
Hearken, good folk, to this most solemn jest! Henceforth, all wanderings not in service of our noble clients are cast into exile. Cancel thy pilgrimages, yea, even those sworn by calendar’s ink, and let thine image flicker in virtual halls instead. Out-of-hall merriments, save they be graced by client or prospect, are banished to the shadow realm! Group coffees? Nay! Breakfasts? Fie! Gather not, lest thou summon the wrath of yon auditors. And as for Yuletide revels—alas, poor merriment! I knew thee well. No holiday feasts shall deck our halls this year; hang up thy mistletoe and drown thy sorrows in spreadsheets!