By “rumor” we mean actual rumors flying and making their way to your friendly neighborhood accounting tabloid. Seeing as we’ve now received this tip from multiple tipsters it feels like it’s time to throw it out there. Let’s start with the first tip we received a couple weeks back:
Rumor of a partner RIF at RSM across all lines. This comes weeks after the audit RIF.
The audit RIF went down the first week of May, The Times later reported it was about 300 assurance professionals let go in that round.
Another tipster who’s been super reliable in the past tells us they’re hearing it’s about 60 partners across all lines; RSM US had 1,182 partners and principals as of FY25 so that’d be an approximately 5% reduction if accurate. They add:
The firm has been very hush hush about it.
From where we’re sitting it sounds like this approach is only encouraging speculation and buzz amongst the proles.
We’re told the firm’s biennial partner meeting is this week in Las Vegas and that US professionals have been invited to listen in on the opening session, perhaps they’re holding off on saying anything official until the meeting. Odds they were going to mention partner separations during that session are slight but not nil, said one of our tipsters.
If you have info you’d like to share with the class reach out via email or text the tipline, anonymously and bathed in our gratitude. As always, we’ll update if and when we hear more.
Maybe management should be let go – say 10% – failure to appropriately grow the business.
I am not surprised. In 2022 when I left RSM, the audit team in my office had nearly the same amount of partners as managers.
It’s definitely true I am friends with one of them. They gave those partners time to wrap up and the departure date will be June 30.
how many across tax, audit, consulting?