“Please, please, please partners. Bill now. We need another billing month like March if we are to continue [the upward cashflow trend].”
— Andrew Griffiths, chief operating officer of Deloitte Australia, during a Zoom meeting with partners on April 15.
The firm’s overall utilization rate dropped from about 71% in the last week of March to about 66% in the first two weeks of April. This was against a planned rate of 72%.
Audit and assurance was the lone bright spot, with a utilization rate of 78%. However, consulting had a utilization rate of around 68% in the first two weeks of this month, from 72% in March. Utilization has fallen to as low as 61% across Deloitte Australia’s financial services, risk advisory, and tax divisions.
Deloitte cuts staff pay 20pc to save partners 50pc [Australian Financial Review]