massive layoffs! ~ Deloitte Consulting Forum

Guest

The official figure for layoff in Deloitte Consulting was 18%...yes almost 2 in every 11. Shocked

Fortunately, our Fed practice did not have as much issue - only the rebels were let go. Twisted Evil

Guest

For Deloitte "greeddotlife" would be more appropriate than "greendotlife".

Guest

How about 'greedydoglife' instead of 'greeddotlife'?

nothing personal...its just a matter of fact.

I really don't understand why all this talk of "greed" is the basis for the vitriol. Its American, free market capitalism at work. Its Darwinism at work. Its not socialism, and its not charity. I feel bad for the international folks that have been affected because of regulatory issues. Others, if you're not good enough to stick around, I feel for you, but maybe you're just not good enough.

Question for discussion:
would you rather have a 10% headcount reduction or a 10% firm-wide pay cut? And for this purpose, please try to take any recently acquired biases out of your response. I'd bet a lot of folks that have recently been asked to leave would have said the reduction prior to their exit.

Guest

I would take the 10% pay-cut (assuming my hours were reduced by 10%).

Guest

The recent cuts included some collateral damage i.e. plenty of good people were sold out to protect partner earnings. It is easy to pit one extreme "greed" against another one i.e. "socialism" in order to try and polarize the argument. Deloitte cannot have it both ways i.e. brag about social responsibility and then throw away some folks that contributed to record earnings in the prior fiscal year as well as recurring earnings. There is an issue of fairness that a firm such as Deloitte needs to be careful not to discard in challenging times such as these.

Guest

Guest

If you look back at the various posts, I think the "package" details will make sense.

1) Because of the numbers of layoffs, and the lack of prior notice, those laid off continue to receive bi-weekly pay as before for 10 weeks.
2) Health care benefits also continue during that same time
3) If one agrees to sign the "General Release", essentially agreeing not to bring suit against the firm, one is to receive an additional one month of salary plus benefits coverage (this is the part that I think has been referred to as being paid in a lump sum)
4) Any accrued but unused vacation would be paid at the same time

This is my understanding - if you feel that the person who informed you of your layoff was a reasonable person, you can certainly call them to verify any details that you don't understand.

A very good idea to verify all details - know where you stand and look out for yourself.

Good Luck and best wishes to you and all severed employees (I'm one of them)

Guest

Guest

As someone who has not posted, but reads this every now and then, I feel the need to state some things:

1. Most of the stuff on here is pure speculation. Anyone who really knows anything is too busy to waste their time here.

2. I still think most of these numbers are made up or based on small targeted groups. Has the firm really released an official number? 18% seems really high. I'm in S&O and like 4 people in my office have been laid off (and I'm not in a small office or federal).

3. Auditing has become a commodity. Why pay our rates when smaller firms are now just as good? This would have happened in the audit group regardless of the economy.

4. Most of the posts of people who have been laid off contain numerous grammar and spelling mistakes... Why am I not surprised?

5. Very few people in my office are on the beach except new people or those in FSI.

Listen people: The economy sucks. Most service industry companies are downsizing. If they haven't, they will soon. The firm is shrinking to protect the careers of those who do stay - not just to preserve partner profits. Partners who don't cut it this year will find their way out as well. It just takes a lot longer to get rid of someone who is an OWNER of a firm!

Yes it is likely that some of the lower performing new people will find themselves at risk after midyears but we have to at least give them a chance to succeed first. For those people who are experienced

I believe the firm has done a good job of being honest with people. Severances here have bit a lot better than a lot of companies. I'm sure that some peoples' experiences have been bad as not every counselor or partner is perfect. Keep in mind those that those people who are dissatisfied are the ones most likely to be motivated to post on here. I also have to believe that those people who are the most paranoid have a reason to be. Maybe Deloitte isn't the right firm for you!

For new people considering an offer, it's a tough job market and you have a reason to be concerned. At the same time, I think you are better off joining a firm who at least has made a commitment to new hires (like Deloitte) but maybe you should consider a different industry if you don't like risk.

This will be my one and only post, but I wish people would just act rational and not post so much BS or bitterness. I'm sure I will be flamed for "drinking the kool-aid," but I'm just speaking from my own experiences has someone who has had a good career here and expects to have one for a while.

Deloitte will emerge a leaner and meaner firm and in the long run be stronger for "trimming the fat" now.

Senior Manager Joined: 27 Mar 2007 Posts: 87

I'm sure some of the trolls on here that bag on me every time I post a message will probably get pissed and reply with useless attacks on me and my character, but serious question. How do you draw the line between "protect(ing) partner earnings" and aligning staffing levels with demand? Companies have to make tough decisions to properly align staffing with demand and when they don't (through bad management or bad union contracts), they end up like the airline and auto industries...totally F--KED!

Guest

Guest

"The lady doth protest too much, methinks."

You make some good points, especially re how getting rid of certain partners is a lengthy process.

However I do sense a bit of a Deloitte apologist in you. I can understand that you want to believe the firm has done a good job of being honest with people but sorry to burst your bubble but there have been plenty of dishonest sneak attacks on good people that were driven by excessive fear and greed on the part of Deloitte management. "I believe" you are in denial if you do not see that Deloitte has not kept these two basic human emotions in check. Hear no evil, speak no evil, see no evil???

And by the way, I am not sure where the spell-checker is on this bulletin (sp?) board so please open your mind to my point (not my spelling) that in some cases good people have gotten hurt by axes (instead of scalpels) being wielded by overly zeoulous Deloitte management.

[I believe the firm has done a good job of being honest with people. Severances here have bit a lot better than a lot of companies. I'm sure that some peoples' experiences have been bad as not every counselor or partner is perfect. Keep in mind those that those people who are dissatisfied are the ones most likely to be motivated to post on here. I also have to believe that those people who are the most paranoid have a reason to be. Maybe Deloitte isn't the right firm for you!

For new people considering an offer, it's a tough job market and you have a reason to be concerned. At the same time, I think you are better off joining a firm who at least has made a commitment to new hires (like Deloitte) but maybe you should consider a different industry if you don't like risk.

This will be my one and only post, but I wish people would just act rational and not post so much BS or bitterness. I'm sure I will be flamed for "drinking the kool-aid," but I'm just speaking from my own experiences has someone who has had a good career here and expects to have one for a while.

Deloitte will emerge a leaner and meaner firm and in the long run be stronger for "trimming the fat" now.][/quote]

Guest

Hi, I have signed with Deloitte, and wondering if they still sponsor H1-b or if they do only OPT in this economic condition. Is my job in danger, I am with BTA in Midwest

Guest

[quote="Password1"]I'm sure some of the trolls on here that bag on me every time I post a message will probably get pissed and reply with useless attacks on me and my character, but serious question. How do you draw the line between "protect(ing) partner earnings" and aligning staffing levels with demand? Companies have to make tough decisions to properly align staffing with demand and when they don't (through bad management or bad union contracts), they end up like the airline and auto industries...totally F--KED!

Agree, this thread has a lot of posts which are nothing but speculation and lies. in talking to partners and directors ,they have admitted that folks in audit and ERS have been laid off en masse. however folks in consulting that have been laid off are the ones that are non performers, even the unfortunate ones some 3 's that were laid off were probably because they were not considered a long term fit with the firm. The folks who are purely technical were looked upon only as commodities. The directive for partners is clear; retain high performers and weed out low performers. so the message for us is simple perform or perish.

Thanks
Larry