Deloitte announced layoffs and i hope none of the people here are impacted. Do you think this will start a domino effect in other firms?
I’m curious is this for S&O people as well? Know so classmates there
Is s&o still a thing? I heard they put everyone in same practice a while ago?
Yes, S&O has been diversified into other service lines. And yes it has impacted sno as a whole, but with bare minimum impact
I’m surprised to hear that. Big 4 are not safe I guess. I don’t think there will be a domino effect — companies have their own game plans and won’t decide based on another company’s decision.
I hope you are right. It is much easier for a company to lay-off people rather than dig hard and cut expenses when layoffs become a norm
Actually it usually is a domino effect. These big 4 are very similar and in fact i believe now that one has started ft layoffs the others now will as they dont have to be as concerned with firm image. The fact deloitte did it first is actually telling of a struggle/concern on profits because they tend to charge customers more than the other 3.
We shall find out starting next week -_-
Good luck tax Soulja
I don't think anyone is safe for the foreseeable future. A lot of places will "right shift" and use the pandemic as a good excuse to cut a lot of fat. With unemployment heading to 20%, wages will decrease since more people are willing to work for less. It'll be bad for awhile.
Troubling times ahead
IT budget cuts + social distancing = less demand for consultants
the timing and severity of cuts should be different.
Woah I’ve never met another Met guy on here before
Yep, the layoff plans are going to look pretty different
Any details about which department, practice, etc?
All consulting and advisory.
Saying Deloitte is laying off really doesn't help much... Usually firms will start with office staff and voluntary severance programs
No they literally said consulting and advisory will cut mid single digit % of staff over June and July.
Yikes - sorry to hear that...
We were told 5% of tax beginning on Monday. Told that this is expected to be the last of it - provided things stay the way they are and there isn't a round two or further downturn.
5% is pretty big... specially considering deloitte projects are longer term..don’t think this will be the end of it, sadly..
Hope you stay safe from the layoff. Good luck!
Already started. Weak players like IBM, HPE, Cognizant already did layoffs.
Hope others don’t follow
wEaK!