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September 21, 2023

Discussion Item: Do Firms Lay Off More Seasoned Staff to Make Room for Fresh Meat?

I was going to put this Open Items but both Colin and I have both cluttered that up today so I'm putting it here instead.

From the tip box:

How do the big firms keep their position as leading recruiters at big accounting schools?  By laying off other employees to open up entry-level positions.  I was a Business Advisory Associate for Grant Thornton for nearly two years when I was one of several that were part of a layoff.  Meanwhile, the firm still recruited for new positions at nearby universities.  I learned that it's all part of the game, especially in the Carolinas practice at Grant Thornton.  The firm cannot lose their coveted position as a lead recruiter for Master of Accounting programs, and they want to maintain their name recognition to the graduating classes, so the only way to keep pace is to have layoffs of second-year associates so that positions are open for recruiting.  Sounds backwards?  It's all about crunching numbers!

What say ye, GC faithful? Bitter bad performer or speaker of the truth?

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