Hope everyone had a good weekend celebrating the ol’ red, white, and blue. Speaking of red, white, and blue, the firm that sports these colors, BDO USA, is ending pay cuts effective Aug. 1, according to sources.
You gotta hand it to BDO thus far. The firm cut employee pay 5% to 10% in early April to preserve as many BDOers’ jobs as possible, and other than a handful of performance-related job cuts that we heard about a couple months ago, there hasn’t been a mass layoff at Bravo Delta Oscar during the pandemic.
Not too many of BDO’s midtier competitors can say the same.
While everyone at BDO is happy to be getting their full pay back, they’re going to have to wait a little longer for news of promotions and raises. Compensation discussions at BDO used to start as late as September and as early as the end of July. But then we were told recently they’re back to being in September or October? I dunno. Anyway, here’s what a source told us last week:
Promotions/raises being pushed back, with 11/1 being either the current expectation or the “latest” date.
Another source told us:
November first is hopefully the latest date.
We haven’t heard anything yet about bonuses. So if you know, let us know, because those who know, know BDO or something.
BDO USA Is Cutting Everyone’s Pay to Stave Off Layoffs