[Updated with additional information.]
Ugh, the hits just keep on coming. We received two tips on Tuesday morning about layoffs going down at Armanino, specifically in Los Angeles and Dallas. But another source told us on Wednesday that the firm’s newest offices in Seattle and Irvine, CA, were hit the hardest; however, we don’t know how many people from those two locations were laid off.
The source believes the Seattle and Irvine offices will permanently close once their leases are up.
[UPDATE:] A source who works in the Seattle office told us that partners reassured employees that no closures were anticipated and the firm is still planning to move into a new office space in Seattle later this summer.
What we’ve been told is that 8% of Armanino’s workforce was let go on April 7. We don’t have an exact total, but according to Vault.com, the firm put its headcount at 1,165 in 2019, so we’re guessing that the number of people who lost their jobs today ranges somewhere between 90 and 100.
One person who was laid off from the Dallas office on Tuesday morning emailed us to say they are receiving severance.
Our source told us on Wednesday that the layoffs at other locations outside of Seattle and Irvine “were small, consisting of mainly admin people and some regular staff in other departments like audit/tax/consulting.”
Besides L.A., Seattle, Irvine, and Dallas, Armanino has offices in San Ramon, El Segundo, Woodland Hills, San Francisco, and San Jose in California; Denver; Naperville, IL; and Overland Park, KS.
The other thing we were told is that those who didn’t get laid off on Tuesday will be getting a 10% pay cut.
Our source told us on Wednesday:
Everyone got a 10% pay cut, and some of the staff also lost an 8 hour day.
They also furloughed a few employees.
The situation was pretty dire.
Anyone with additional information about the job cuts and pay cuts happening at Armanino, please get in touch with us by using the contact info below.