Layoffs at Big 4!
Few days ago, I was watching some layoffs of junior auditors at my office. The official reason was announced as "due to continuous fails at academic studies (ACCA) and bad (NI) appraisals. For that moment I thought: "Well, theses layoffs are not because of bad times in my lovely Big 4 company or money shortage, but because of auditors' poor performance." - despite the fact that I have never seen so many layoffs due to such reasons.
Today, I have got another bad news - several partners from a competitor Big4 company were fired... Having heard that, some of my colleagues were pretty happy watching their competitor in troubles... By the way, they were so happy laughing at competitors and not knowing that they were the first in the list to be kicked out of the company. ((
I was not happy. Big 4 companies are not competitors - we're all sinking in one boat, particularly Big 4 employees... this statement didn't let me wait too long for its proof of correctness. This evening I had a call with my friend from other Big 4 company. He told me about their management's announcement in regards of possible salary decreases. BINGO!!! Big 4 doesn't have enough cash to pay salaries. Big 4 is in CRISIS... at least in my country.
and now I have nothing, but to wait my managing partner saying:
"Folks, you saw problems of our competitors, and we are not exceptional. We decided to announce a decrease in salaries and 20% layoff program across the company."
4 comments:
Hi, which country are you from? Is it now a difficult time for accounting firms, even for big-4? I am going to work for one of them and decrease in salary is not a good news.
my hotmail: rain.tor@hotmail.com
Lay-offs are extremely hard and unfair in ALL Big-4 companies for junior staff especially. Without any reason, just in one day. Fuck off......
I'm a PwC forensic acc. and You can't imagine how many projects I am staffed on. I bearly keep track of them! Everytime frauds happen there is something more to audit, so .... Good Luck, pal! I hope you find your place!!!!!
The US Government is firing Americans and replacing them with Indians. This is being done through the big accounting/consulting firms that get the big government contracts. The American contract employees are being replaced with Indian ones. You can't eat off of the fat of the land and then turn around and screw the people who are hiring you. All US Government contractors should be American citizens.
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