The trend of axing internal people continues.
We’ve been informed by multiple tipsters that Baker Tilly let some people go this week, all non-client facing roles in talent acquisition, marketing, and admin along with some IT roles. Although our tipsters don’t have exact numbers, they’re guessing it’s up to 300 people.
Because the cuts include both Baker Tilly people and people who came over from Moss Adams after the firms merged earlier this year, it’s looking like a lot of these are straight redundancies and expected post-merger adjusting. That said, at least one of our tipsters can’t help but wonder if there’s a touch of offshoring in the mix, too.
As for severance, the package isn’t too terrible. Per a tipster, affected staff will stay on the payroll through the end of December and can work until mid-November, benefits remain until 12/31. Plus the standard two weeks per year of service and paying out PTO, and they’re paying out retention bonuses. They’ve also dangled the carrot of paying out annual bonus to those who qualify, we aren’t sure of the details on that. “Much better than expected,” said one tipster. No kidding.
If you have more details or just want to vent your feels about this development you may email or text.
Disappointing.
Business is business. 2 and a half months of severance taking you through end of year holidays is better than being fired and nothing the day after.