Heard a few grumblings about RSM layoffs earlier today, lo and behold there’s a Reddit thread.
Text:
Hearing rumors from multiple sources that RSM is conducting layoffs today and for the rest of the month.
Areas impacted today: Transaction Advisory Services.
If you are a client of RSM, ask for a new firm. Partners sending all the work to india and keeping the profits.
Here’s what we were told via the tip box:
Heard from an insider source that RSM’s technical accounting consulting laid off about 20 today, focused heavily on Directors and Senior Director group. Some of the names I was pretty shocked (highly technical folks) so this is not a performance based issue related but instead seems like higher paid individuals as the group struggles with revenue.
It appears only consulting is affected. Someone on Reddit asked if audit should be worried, a senior assured them that “audit people are quitting faster than they can lay them off.” Whew.
yes Audit and Tax were cut too. from our audit team 10% of the team, 3 ppl got laid off. But they were super under performing, they could not get promoted, don’t even have CPA license so they deserve to go.