Deloitte Layoff Estimation
Our COO mentioned in the COVID-19 update call that they will consider layoff and furlough after performance review (results usually come out in June). All I got from my practice lead was that we’re doing better than expected from the client service hour standpoint. Does anyone have more insights into the possibility of laying off people by business and the estimated scale?
I was hoping to know if other Deloitte employees have heard anything more specific or anything different from their leadership. Our client service hours and revenue are still strong in Q1.
You cannot handle the truth my friend
OP- Did you post this on FishBowl?
Deloitte Consulting CEO said that they are not going to reduce the headcount. Like any other year there are people that leave or have to be laid off and that is normal
He said not yet. He also said the first lever to be pulled in partner unit payout. They have not done that, but have already pulled the "low to no raise/bonus" lever. So already he has not been honest. Additionally, if you watch his call from Friday the deck shows clearly "+/-" for salary adjustments. Meaning cuts are on the table
I mentioned this on fishbowl and one of the principals confirmed pmd pay has been tapped
I thought it’s going to be delayed raises and no bonus to avoid lay-off.
I’m in consulting, too. This is consistent to what I heard so far: minimal to 0 raises/bonus. The leadership did mention that they will look at layoffs and furloughs after performance review.
Which deloitte practice are you in? This may differ per different practices within the firm.
Consulting. I haven’t heard much from the other businesses.
Anyone heard anything on layoffs from EY ?
I think there will be a round in the fall. They will call it performance related. We had about 900 let go over sept-dec in 2019 for the same reason. I bet this year will be bigger.
Yeah the call with Pete didn’t look to promising. I’ve already started looking externally and I know a bunch of my colleagues are doing the same. I spoke with my counselor today and she basically said we lay people off based off of “performance” every year and there hasn’t been any decisions made yet. At least we have jobs until the performance process is over lol... so mid July?
They already started layoffs in the Toronto firm. I am one of the people that got laid off. They have decided to lay-off 4% of the staff here
Business services aka modern consulting industry business model is very similar to the 18th-19th century slavery industry. Here how it goes, when business is good you acquire the peoples who provides most values in terms of profit margins. Strong men that carry out all the orders with minimum maintenance cost. Then when business is not so good, you get rid of the ones who are older or not active in any projects, I mean in bench. Then the ones whose projects won’t be renewed soon. Then the ones whose profit margins is not that great. I mean peoples who work for the low return clients. Think in terms of what is the product here. The employees are the products in consulting in the disguise of service. When supply is less reduce the production.
Nobody asked Salesforce, shut up.
You are basically describing the way any business works whether you sell products for a monthly subscription or sell people hours via services. Businesses exist for 1 and only 1 purpose: to make sure they make money and are successful. Not to "look after their employees" or "take care of their people resources". You are ALWAYS disposable regardless of what type of company you work for, unless you are an entrepreneur in which case you are disposable by your competition. Look at all the startups that inflate their recruiting when business is good and layoff whenever the stocks fall. Describe to me how working at Salesforce or any other company is not "modern slavery" by your definition. You have to ASK for time off and wait for approval. You are to show up 9-5 EVERY DAY Monday to Friday and be available in front of your screen during this time. You have processes in place that you have to follow and duty calls that you have to respond to. Not sure how mature you are in your career but this is how corporate life works, product company or services company. In business, Profit = Revenue - Costs. If you can't grow revenue, you're gonna have to cut costs.