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Update: Deloitte Statement on Layoffs

As I have said before, in particular with regard to the layoffs at PwC in February that have continued since, the Big 4 do not like to talk about cuts. They have a habit of reducing staff surgically, in a thousand little cuts, across practices, geographies, offices, so that each person thinks they are unique. Those cut are often made to feel inferior and a failure, as most often the cuts are characterized as performance related and a result of forced ranking techniques. I also see the survivor rationalization too – when survivors dis’ those cut by saying they just “couldn’t make it in the Big 4” or they were “dead wood.” Helps cut down on ongoing morale problems when the remaining staff feel more secure, safe, because they think they are superior.
Ms. Harrington made it clear on the phone, and in her statement, that the vast majority of cuts were based on the negative economic reality the firm is facing. What’s frustrating to professionals, both those cut and those left behind, is why the firms are not better at planning and forecasting.


David Maister Weighs In On Layoffs

The Master, David Maister, weighs in today on a topical topic, layoffs in professional services firms. His comments, and those of his readers, are always a good read and an antidote to my broken record. …As always, I have to stress that this is not a moral issue but one of pragmatics. If one of […]


Follow-Up – PwC Advisory Services Layoffs

During the last two days, comments and traffic related to my post about layoffs in PwC’s Advisory Services practice have been huge. I am currently in NY attending other meetings and yesterday attended the PCAOB’s Standing Advisory Group meeting in Washington DC. More on that meeting later. But I want to make a few comments […]


More Big 4 Layoffs

If you were directed here by Google Search while looking for info on the latest Deloitte layoffs, go here for my more recent, August 2008 post. ****************************From the weekend mailbag… Do the incoming recruits get to use d’street? Dear Ms. McKenna, I was just reading about the PwC layoffs, and couldn’t help but wonder if […]


More PwC Layoffs

Just had an interesting comment on the McKinsey-assisted PwC reorganization which has prompted their most recent unpublicized (except for here!) layoffs. Take a look here. Thanks for subscribing to the re: The Auditors feed. Please tell a colleague about the blog. Drop me a line at if you have a comment or complaint.


Update – PwC US Layoffs

Little birdies (and a lot of gossip on Vault) tell me that based on a reorganization done with some advice from McKinsey, PwC is in the midst of three waves of layoffs. The first came before the end of their fiscal year, June 30. As usual, within PwC, there were a lot of announcements of […]


Layoffs – What’s Your Excuse?

Between 2001 and 2003, I was the Regional Vice President for the Midwest for Jefferson Wells, Inc. I joined to bring a more consultative approach to what was already a very successful start up, an independent provider of internal audit and accounting /finance staff augmentation services to Fortune 500 companies. However, the firm had been […]


Layoffs-Federal Home Loan Bank of Chicago-Update

Update: My sources say that this was just Round One. There may be a Round Two and Three coming, up to 100 in total, in order to bring the bank more in line, staffing and activities-wise, with the rest of the circuit. Is PwC going to claim, a la KPMG/Fannie, that they were deceived about […]


Piracy, Plunder, and Non-Fungible Tokens

Problems on the OpenSea Bloomberg’s Matt Robinson reported on March 2 that the U.S. Securities and Exchange Commission is scrutinizing creators of NFTs, and the crypto exchanges where they trade, “to determine if some of the assets run afoul of the agency’s rules,” citing the usual “people familiar with the matter”. It’s another shot across […]