Comments on: Deloitte – The Worst May Be Yet To Come

By: re: The Auditors » Blog Archive » Will More Women Mean Better Audit Firms?

Sat, 26 Nov 2011 21:16:23 +0000

[...] is the same firm that’s made the deepest, and most brutal cuts in their workforce during the last three years of all the Big 4. They were the first to admit, on [...]

By: Update

Update — Fri, 07 Oct 2011 22:26:56 +0000

Strange, the other Big 4 firms are aggressively recruiting tax people, from one another and from industry. I doesn’t sound like the Deloitte taxoff is due to lack of work in the market place. Could something else be going on – for example, is Deloitte about to lose a big lawsuit?

By: Bender

Bender — Sat, 01 Oct 2011 21:18:51 +0000

I’m surprised that during the last round of layoffs Senior Managers were largely spared. I know a lot of Senior Mangers who are very well paid and have been at the Senior Manager level for many, many years. These people aren’t moving up because they don’t sell anything, and they aren’t moving out because they’re too comfortable where they are.

On the one hand, the firms don’t want to lay off people who could soon be customers for their services (don’t want to poison that alumni network). But on the other hand, this growing army of redundant Senior Managers represents a very expensive layer of middle management that is hard to justify keeping around during a double-dip recession. I wonder what the future holds for these people if the economy takes another dive.

By: the dude

the dude — Sat, 01 Oct 2011 00:27:51 +0000

On the tax side – layoffs will be coming …. forced number by office at manager and above … attribute to the double dip … they tried to keep long as they could … ugh

By: Update

Update — Wed, 03 Aug 2011 00:16:20 +0000

Funny you should ask! Word on the street is that PwC has been successfully raiding a number of the other firms, tempting senior level employees with high pay and advancement. One Deloitte partner was trying to convince a number of people that big bad PwC had laid off too many people and was now trying to raid innocent and loyal Deloitte which did not lay off like PwC did. If one did not know better, one might have actually believe this. Coincidentally, Deloitte is attempting to replicate PwC’s newly announced (more lucrative) pay structure, likely in an attempt to curb a mass exodus.

With the direction that the economy appears to be heading, perhaps more layoffs may follow. Committments to high multi-year raises right before another 2008 ish downturn might force Deloitte to resort to the behavior it knows best – circa 2003 and 2008. Judging by the posts on this site, the Greendots are not a silent bunch and will likely post, if more layoffs occur.

By: 2 Years Later

2 Years Later — Sun, 05 Jun 2011 15:02:15 +0000

It’s interesting to look back at this thread 2 years later. It seems like the high-water mark for layoffs was May of 2009 and then things seemed to stabilize at D&T after that. I was one of those cut in the May 2009 round of layoffs and I’ve been wondering what things are like at D&T these days. I’ve heard from friends still at the Firm that they stopped laying off people after May ‘09 because people began quitting on their own in mass numbers and now it sounds like things have returned to normal (i.e. pre-2008 status quo).

Francine, what’s your take on things in Green Dot land? Have things really returned to normal over there? Or did the 2008-2009 layoffs leave a permanent mark in the morale at D&T? Considering that the layoffs went all the way up to the Partner level, I imagine that the way D&T handled the recession has left behind some permanent changes to the culture of that place. Or maybe not. Maybe the fresh crop of newbies with no memory of the recession have already embraced the “Best Place to Work” mantra and everyone else has a short memory. Either way, it would be interesting to get an insider’s assessment of life at D&T 2 years post-layoffs.

By: Departed

Departed — Mon, 19 Apr 2010 02:39:23 +0000

@461, ITS (Information Technology Servicest)…..obviously you must be a non performing minority since you can’t associate a CIO to Technology and not International Tax Serivice…..sounds like you need to be replaced because you are one of the appointees that doesn’t have a clue !! You are as clueless as your response because you can’t associate terms in my original response. Good grief, that is why Big D has problems because reasoning skills are not needed, just dumb head nodders. If you are not in Information Technology Services, maybe you should apply….sounds like the sky is the limit for you !!!

By: Anonymous

Anonymous — Mon, 19 Apr 2010 00:52:54 +0000

@460, when was International Tax Services (ITS) at the Big D ever not a big joke? ITS deliberately focused on minorities when laying off last year. Now, they are trying to buy back the minorities, by actively going into the market place and recruiting them. Got to make the numbers work. Rumor is that the top ITS guy moved on to a different role, and perhaps the new guy is trying to fix what the old guy did. Well, new guy, don’t forget to take care of all the old guys’ henchmen.

By: Departed

Departed — Fri, 16 Apr 2010 01:24:01 +0000

They delibertly lowered all competent performers last year in ITS without any reason so underperformers could be awarded due to the Minority push. Still the same bs today, that’s all they talk about “we need to hire more minorities”…….only in ITS. If you are a competent non-minority, stay away from ITS because you will be a sacrifice to that organization. The incompetent leadership of the CIO and his appointees are disgusting. When economy gets better, competent non-minorities are getting out. ITS at big D has become a joke !!

By: Billy Jean

Billy Jean — Thu, 15 Apr 2010 01:39:38 +0000

My prediction on raises – average raise will be 4%. top performers will get 6%. Bonuses will be about 1/2 of what they were at the peak….