[Updated on June 26 with additional information.]
A source at Moss Adams told me that, according to a video message from CEO Chris Schmidt today, 103 of the 370 furloughed employees were let go on Thursday.
[Updated on June 25 with additional comments.]
Another sucky day in public accounting during this pandemic. We’ve been told that phone calls were made today to furloughed Moss Adams employees and “a majority” are not being brought back.
Back in April, roughly 370 Moss Adams employees were put on a 90-day furlough as part of the firm’s cost-cutting measures while the economy was tanking due to the Rona.
But in an everything is rainbows and unicorns message to MAers on June 16, CEO Chris Schmidt said the firm was “actively reviewing data to make decisions regarding those employees” and that he would have an update on their statuses after the firm’s executive committee meeting on June 23.
We’ve spoken with four furloughed Moss Adams employees today, three of whom were told they were being laid off.
One told us:
Moss Adams just fired a majority of their furloughed employees today. The fire will be in effect July 27th.
The partner on the call said that the issue was due to overstaffing of all offices from Washington. Talking to people that are still with Moss and well connected they said that most of those furloughed were fired. They said that we can apply for jobs within other offices but they said they did not know which Moss Adams were hiring.
HR is the one that stressed we could apply for other positions but also had no information for where would be hiring during this time
Definitely less than ideal. That company is so shady, and has turned out to be so disappointing.
Another person who was let go from Moss Adams today also was told they were welcome to apply for any Moss Adams jobs in the future.
This person had only worked at Moss Adams for six months and was told some furloughed employees get to stay based on “client needs and staffing issues.”
They said that I met their expectations of a new staffer during my six month time there – so that wasn’t the reason. Instead, they vaguely reported that based on their clients’ needs and the skills needed to meet those needs drove their decisions in who to lay off. They have denied my questions on further details regarding the selection process ever since day 1.
I get two weeks severance pay and and help from a recruiting agency to gain employment elsewhere.
The third person we spoke to who was laid off said:
I’ve been impacted, with a disappointing severance package. Last day will be July 24th so at least benefits are paid through the end of July.
The MAer who told me they are coming back to Moss Adams after their furlough is over on July 27 felt sympathy for colleagues who got bad news today.
It’s a shame that not everyone is coming back.
If you are a furloughed employee who was laid off today and need a sympathetic ear, feel free to use the contact information below to get in touch.
Pay Cut Watch ’20: It’s Not Good Friday at Moss Adams
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