https://stocks.apple.com/AINZNqtHMQvuX2iwpuNKRRg KPMG Gave SVB, Signature Bank Clean Bill of Health Weeks Before Collapse
KPMG Layoffs and Severance Pay
Severance package details
If someone could give a little more detailed insight into the severance package, that would be very useful. I hope the package will be generous.
Is there any way to know if all 700 people who are getting cut here have been notified already or not? There is so little detailed info outside of "KPMG is cutting employees" that it's making me nervous. I'm hoping it's already over but I can't find... — read more
KPMG layoffs: 700 employees to face job cuts in US
KPMG is laying off nearly 700 people or about 2 percent of its workforce in the United States, to become the first among the Big Four accounting firms to do so, reports said on February... — read more
Is it 5% or 5,000?
I've seen people mention 5% and I've also seen people say that 5,000 employees are affected. Which one is it? We have more than 200,000 employees. Five percent of that is 10,000, which means that five percent of the entire workforce would be above... — read more
Advisory layoffs in progress
Advisory hit heavily, about 5% cut.
Prepare for layoffs
Our own survey shows that more than half of companies plan to have layoffs in the next six months. What are the chances that we are in the "no layoffs" group? Slim to none. I'm preparing for cuts the best I can, and I'd advise everybody to do the... — read more
40% Smaller NY Office Space (moving to Hudson Yards)
https://www.wsj.com/articles/kpmg-to-cut-manhattan-office-space-in-move-to-new-u-s-headquarters-at-hudson-yards-11661270438 No Paywall: https://archive.ph/DXCMp
People are The most important asset at KPMG
There are no layoffs (right now) and KPMG will do layoffs only as the last resort. I've been with the firm for about 10 years now and I've see good and bad days, so trust me when I say that layoffs are rare. There are other drawbacks though, for... — read more
Guess who's going to have to pay for this?
Is PIP survivable?
Every person I know who was put on PIP has been fired at the end of it. This includes people who shouldn't have been put on PIP in the first place as well as those who have worked hard and improved immensely. If people like that are getting fired... — read more
This is going to be massive
Following Deloitte, KPMG explores sale of restructuring arm [Consulting.uk] On the back of a number of accounting scandals involving the Big Four, the UK’s audit watchdog of the Financial Reporting Council has effectively banned Deloitte, KPMG, EY... — read more
KPMG severance package
What does the package look like for IT staff? Does it come with any kind of extended medical coverage? I haven't heard anything about more layoffs, I'm asking just in case - just to make sure that if something happens I know what kind of level of... — read more
The 2020 interns were virtual and it was only for 2 weeks but everyone got FT offers for next year
1400 or 4%
Per Business Insider (link below)... KPMG just axed 1,400 US jobs across tax, audit, and advisory businesses and is also cutting some workers' pay KPMG, one of the so-called Big Four accounting firms, laid off 1,400 of its 35,000 US employees... — read more
I was laid off today and will receive a severance of 4 weeks. Some colleagues who have been with the firm several years only got 6. This is very low when you consider mass layoffs. There’s an option to sign a release agreement which gives 10% bonus... — read more
KPMG Sept 2020 Layoffs ---> 1000+ to be let go (already in process)
It's not only "Advisory" that will be hit - there will be deep cuts in Audit and Tax as well. Also admin folks will be affected and some will take pay cuts. Here is what I heard from a partner source: a) Advisory - about 400 b) Tax - about... — read more
Advisory Layoffs - Selection Criteria
What kind of selection criteria will be used as we go into Advisory layoffs?
Advisory Reduction in Force (RIF)
Just got an email from Carl Carande US Vice Chair Advisory. States that the pandemic has caused a downturn in business and as a result they will be having a RIF. Impacted personnel will receive an meeting invitation and email from HR by close of... — read more
E.A. Layoffs by KPMG
This is ongoing and I think they will be done by EOM. Not cool at all.
So far at KPMG no layoffs, but no bonus or merit increases.
How do you think your company is faring the new market conditions, and do you think the measures taken have been fair? So far at KPMG no layoffs, but no bonus or merit increases. Promotion increases are still happening, but hard to tell if... — read more
Audit - Cuts Happening Soon (Texas)
Employees have been told "If you don't like public accounting, let us know and we'll help you find a job elsewhere". Vacant audit positions across the country have been mentioned in case employees wish to transfer. Cuts will be happening very soon as... — read more
Layoffs yesterday and today. Jobs moving to Mexico and India.
Red wedding today....
350ish cuts today at kpmg us.......
On a firmwide call yesterday KPMG said they were doing better than their worst case scenario projections, so there's that I guess.
Impacts so far - KPMG US
KPMG US 50% reduction in draws for partners through Sept. 30. No variable compensation in FY 2020. Hiring freeze. Reduced capital investment. No Encore awards in FY 2020. No summer gifts to employees in FY 2020.
Why would you reject a pay cut?
Is anybody really that secure in their position to take that risk? Honestly?
I can confirm Lynne stated in the latest video update that “our partners are doing everything possible to avoid layoffs” and that a “reduction in force will be the last resort.” 50% reduced partner draw for the rest of the fiscal year (through... — read more
KPMG CEO Lynne Doughtie Assures Employees No Layoffs Are Coming
Canada Cuts in Progress (April 2020)
It has started. KPMG Canada offices in several locations are being hammered - the biggest cuts are in Toronto, also hit Vancouver and Calgary. They are going after lower ranked folks, people that were held back - I hate to call them low performers... — read more
KPMG layoffs 2019 NOW
Feb. 2019. Advisory across the country. They will never stop. Advisory is never KPMG’s favorite child. Looks like they have been doing the advisory layoffs every 2 years.
Major layoffs at KPMG
This time it's South Africa, nearly 400 people will be cut. This seems to be specifically related to corruption scandals, so whether this will spread to other countries is doubtful but remains to be seen... — read more
Move to Deloitte or PWC now
Just because we use the term "big 4" doesn't mean that they are in the same category. To be honest, working for KPMG or EY is like being om a minor league baseball team that doesn't even have a good pro team. Please understand this is not intended to... — read more