Comments on: More Big 4 Layoffs http://retheauditors.com/2008/02/18/more-big-4-layoffs/ The Business of the Big 4 Audit Firms Tue, 22 May 2012 15:02:22 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Francine McKenna http://retheauditors.com/2008/02/18/more-big-4-layoffs/comment-page-1/#comment-1272 Francine McKenna Fri, 24 Oct 2008 03:01:00 +0000 http://76.12.174.187/?p=593#comment-1272 @9:57:00<br/>Can you please repost this comment on my latest post today? It deals directly with this issue. Thanks. fm @9:57:00
Can you please repost this comment on my latest post today? It deals directly with this issue. Thanks. fm

]]> By: Anonymous http://retheauditors.com/2008/02/18/more-big-4-layoffs/comment-page-1/#comment-1271 Anonymous Fri, 24 Oct 2008 02:57:00 +0000 http://76.12.174.187/?p=593#comment-1271 I work at a large firm in the NYC area. We have received calls from candidates we offered last year but who decided to sign with D&T. They have had the offer the received last year rescinded in September, only weeks before they were slated to begin work. I was out recruiting at a university today and they had three students who signed with D&T last year who had their offer rescinded last month. Based on discussions today, Universities are aware and they are not pleased. I work at a large firm in the NYC area. We have received calls from candidates we offered last year but who decided to sign with D&T. They have had the offer the received last year rescinded in September, only weeks before they were slated to begin work. I was out recruiting at a university today and they had three students who signed with D&T last year who had their offer rescinded last month. Based on discussions today, Universities are aware and they are not pleased.

]]> By: Anonymous http://retheauditors.com/2008/02/18/more-big-4-layoffs/comment-page-1/#comment-1267 Anonymous Thu, 23 Oct 2008 18:44:00 +0000 http://76.12.174.187/?p=593#comment-1267 Deloitte Tax has not downsized tax the few years - they have actually grown it quite a bit over that time frame, both in revenues and US headcount. Deloitte Tax has not downsized tax the few years – they have actually grown it quite a bit over that time frame, both in revenues and US headcount.

]]> By: Anonymous http://retheauditors.com/2008/02/18/more-big-4-layoffs/comment-page-1/#comment-893 Anonymous Mon, 08 Sep 2008 19:38:00 +0000 http://76.12.174.187/?p=593#comment-893 Blogger James makes reference to the ailing economy as the primary driver for the Deloitte AERS layoffs - this may be a contributor; however, I believe the main reason is partner greed. Upper management has chosen to ramp up resources within India as labor is cheaper (now one of the largest Deloitte offices). As if the average $700-800 thousand partner salaries are not high enough, utilizing resources in India will certainly add more dollars to the bottom line, which ultimately finds its way in to the partners' pockets. Greed is the primary influence for outsourcing/layoffs - Deloitte has downsized back office and tax within the last couple of years, and AERS is now the latest victim. Blogger James makes reference to the ailing economy as the primary driver for the Deloitte AERS layoffs – this may be a contributor; however, I believe the main reason is partner greed. Upper management has chosen to ramp up resources within India as labor is cheaper (now one of the largest Deloitte offices). As if the average $700-800 thousand partner salaries are not high enough, utilizing resources in India will certainly add more dollars to the bottom line, which ultimately finds its way in to the partners’ pockets. Greed is the primary influence for outsourcing/layoffs – Deloitte has downsized back office and tax within the last couple of years, and AERS is now the latest victim.

]]> By: Anonymous http://retheauditors.com/2008/02/18/more-big-4-layoffs/comment-page-1/#comment-865 Anonymous Thu, 04 Sep 2008 18:37:00 +0000 http://76.12.174.187/?p=593#comment-865 Oh, no. It is NOT just folks on the beach, and not just poor performers... it is a real mass layoff which is totally hushed for obvious reason, but why it is not covered by the press??? (except for http://www.webcpa.com/article.cfm?ARTICLEID=28993) Oh, no. It is NOT just folks on the beach, and not just poor performers… it is a real mass layoff which is totally hushed for obvious reason, but why it is not covered by the press??? (except for http://www.webcpa.com/article.cfm?ARTICLEID=28993)

]]> By: james http://retheauditors.com/2008/02/18/more-big-4-layoffs/comment-page-1/#comment-679 james Sat, 28 Jun 2008 18:48:00 +0000 http://76.12.174.187/?p=593#comment-679 It is reported within the various practices of Deloitte AERS that layoffs are happening, so far mainly seniors and managers. With a downturn in the economy, there is a lack of new project hence those with poor reviews and is on the beach for a extended period of time are being axed first. It is reported within the various practices of Deloitte AERS that layoffs are happening, so far mainly seniors and managers. With a downturn in the economy, there is a lack of new project hence those with poor reviews and is on the beach for a extended period of time are being axed first.

]]> By: Francine McKenna http://retheauditors.com/2008/02/18/more-big-4-layoffs/comment-page-1/#comment-519 Francine McKenna Thu, 10 Apr 2008 20:39:00 +0000 http://76.12.174.187/?p=593#comment-519 Can you please repost this on today"s post? Can you please repost this on today”s post?

]]> By: Anonymous http://retheauditors.com/2008/02/18/more-big-4-layoffs/comment-page-1/#comment-518 Anonymous Thu, 10 Apr 2008 20:27:00 +0000 http://76.12.174.187/?p=593#comment-518 There were many layoffs in February and March. Yes people with Visas were let go. The layoffs were shocking and at all levels. The firm is still hiring though.... <br/><br/>-Discusted Former D&T employee There were many layoffs in February and March. Yes people with Visas were let go. The layoffs were shocking and at all levels. The firm is still hiring though….

-Discusted Former D&T employee

]]> By: Anonymous http://retheauditors.com/2008/02/18/more-big-4-layoffs/comment-page-1/#comment-461 Anonymous Thu, 27 Mar 2008 04:15:00 +0000 http://76.12.174.187/?p=593#comment-461 Why is it that accountants cannot own shares in their audit clients or have other direct or indirect interest in their audit clients, HOWEVER many large firms "invest" significant fee discounts (sometimes >80% of fees) in their prepublic clients. <br/><br/>They talk about this "investment" and look for a "return" from the IPO, however they claim to be independent in a public IPO situation. In some cases they even have agreements to recover the "investment" if the company is acquired in an M&A transaction. <br/><br/>With so much oversight, why is this issue not addressed? Why is it that accountants cannot own shares in their audit clients or have other direct or indirect interest in their audit clients, HOWEVER many large firms “invest” significant fee discounts (sometimes >80% of fees) in their prepublic clients.

They talk about this “investment” and look for a “return” from the IPO, however they claim to be independent in a public IPO situation. In some cases they even have agreements to recover the “investment” if the company is acquired in an M&A transaction.

With so much oversight, why is this issue not addressed?

]]> By: Anonymous http://retheauditors.com/2008/02/18/more-big-4-layoffs/comment-page-1/#comment-348 Anonymous Tue, 26 Feb 2008 19:41:00 +0000 http://76.12.174.187/?p=593#comment-348 Add KPMG to the list. Currently laying people across the US. Time for the smaller firms to beef up! Add KPMG to the list. Currently laying people across the US. Time for the smaller firms to beef up!

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