We’re going to briefly remind you about the hammer that is going to drop on some unlucky Klynveldians tomorrow.
So far it sounds like there has been blood shed in Dallas, Indianapolis, and New York but no details on severance and it sounds like only second year associates have gotten shown the door so far.
If you’re one of the KPMG casualties, drop us a line at tips@goingconcern.com and give us the gory details: severance, number laid off, lunging across the desk, did the partner you met with wear an executioner’s mask? Tell us everything.
Tag: Layoffs
Rumor of the Day: KPMG Layoffs in Dallas Next Week
As if you didn’t need another excuse to go on a three day bender, we received a tip that audit professionals will be getting laid off at the Dallas Radio Station next Tuesday, the 18th. Tax professionals will get their turn in September, most likely after the filing deadline.
Word is that no one level is safe as the cuts will be made at all levels including partners.
KPMG did not immediately respond to our request for declined to comment.
If you’ve got more information on the sitch or you’ve heard similar rumors for other offices, drop us a line at tips@goingconcern.com.
Follow-up on PwC Layoffs
A quick follow-up on the layoffs we mentioned in last week’s firm watch that went down at the PwC Denver office. We heard over the weekend that it was approximately a dozen employees that got the boot and it occurred at all levels including at least one senior manager.
The layoffs, which occurred last month, were deemed to be “performance related” which has been P. Dubs’ consistent story regarding cuts. Similarly, everyone seems to consistently disbelieve that story. If you have more details regarding these layoffs or if there were recent layoffs at your office, let us know at tips@goingconcern.com.
Rumor of the Morning: Tax Layoffs to Come After Filing Deadlines?
Over the weekend we received an email that basically confirmed our suspicions that many of you were working over the weekend. Considering the time of year, it doesn’t come as much of a surprise that hours are starting to pile up and you’re spending at least one hour a night deciding where you’re ordering take out from.
We received word over the weekend that tax groups at KPMG PwC all the major firms are working like crazy already in anticipation for the September 15th and October 15th filing deadlines.
There have also been whispers among some in the tax practice at KPMG that layoffs may occur after the deadlines due to large number of idle hands that will be around after the deadlines pass.
Tax associates out there, let’s know what your hours have been, what you’re hearing about post-deadline layoffs, and where you don’t want to get take out from ever again.
Forbes: Senior Accountants Pay Rising in the Recession
Feel free to call bullshit on this because we’ve heard rumors about pay freezes at KPMG (they are getting back to us on this) but according to Forbes, senior accountants rank at #11 for “Hot Jobs Where Pay is Rising” in the recession. The list states median pay at $60,300. Not only that but apparently, there aren’t enough of you senior accountants:
There’s a shortage of senior accountants right now, and the recession has actually provided a chance for them to revive client relationships, believes Mark Koziel, senior manager of firm practice management at the American Institute of Certified Public Accountants. “As long as there’s small-business America, as long as there’s big-business America, there will still be a need to do auditing and tax returns,” he says.
This strikes us as strange as there have been layoffs at several firms. The need for auditing and is obvious but those of you left are probably doing the work of two or three people.
UPDATE, July 22, 2009: KPMG got back to us re: pay freezes and had no comment
Layoff Watch: Even Local Firms are Cutting Back
The bean counter bloodbath continues, even at local firms.
Pittsburgh area firm, Alpern Rosenthal cut a dozen staffers late last week citing “performance issues”. The firm is also requesting current employees “to take a week of unpaid vacation by the end of the year, when [they] will determine whether they institute a hiring freeze or adjust profit sharing.”
Pittsburgh-area accounting firms tighten up, cut staff as downturn lingers [Pittsburgh Business Times]
About to Get Canned? Depends on Your Response
With all the uncertainty out there, for the first time, number crunchers are walking on eggshells, because, you know, if anyone gets the hint that you’re not busy enough, before you realize it you’re turning in your badge and corporate card with $500 of still unexplained expenses on it.
Here at Going Concern, we’re looking out for you, so that’s why we’re going to lay out some indicators for you so you can tell if you are about to get axed or if you should just buckle down and call for take out because your ass isn’t going anywhere.
Here are some common responses to the awkward icebreaker that is common around most offices, “You busy these days?”:
• “Ugh, you know how it is” – You’re safe. Maybe it’s the bags under your eyes, your shirt being on inside out, or maybe you just reek of tequila because you spent the four hours prior to returning to work reliving your days at Tappa Megga Kegga. Unless you plan on going postal at the office, you’re not going anywhere.
• “Oh pretty busy” – Watch yourself and lay low. You’ve got stuff to work on but not enough to keep you at the office past 6 pm. Every once in awhile you’ll stay late and catch up on your Netflix queue in order for it to look like you’re not leaving GASP too early.
• “I’m working on a project for HR” – Dust of the resume. The only reason they’re keeping you around is to bide time until judgment day when the rest of the people are going down with you.
Rumor around the campfire is that some of the firms are billing far fewer hours than are budgeted which could spur some additional cuts so watch out for responses similar to the ones above. The bloodbath may not be over yet.