Thread regarding Ernst & Young layoffs

We can never be satisfied as long as any one of these employees is the victim of EY’s dishonesty!

Integrity and honesty are the foundations of public accounting. With great trust, the public and the Securities and Exchange Commission rely upon the information provided by accounting firms. An accounting firm thus holds substantial responsibilities and obligations to society. Among hundreds of accounting firms, Ernst & Young is one of the biggest four.

But at this one of the hardest moments of our history, EY is not being honest to its employees. EY falsely framed all the separations that have happened during these two weeks as performance-based separations. This statement is not honest. A lot of the employees who are currently on “performance improvement programs” (PIP) have not been let go. A lot of the people who had good written feedback were fired without prior notice. Those unfortunate people will then bear the name of “underperformers” when they leave the firm. At this hardest moment, EY is sadly manipulating the public’s perception of its secretive layoff.

We are angry. We are angry because EY lied to its employees. If we take the following statement as true: “If an employee has serious performance issues, such employee is on a PIP,” then the statement that “if an employee is not on a PIP, such employee does not have serious performance issues” must be also true. Then, we are asking this question now: Why are the low performers on PIPs still with the firm while those employees with good reviews were let go? We need an answer.

If you cannot accept that an accounting firm can announce to the public that you are let go because your performance was significantly below your peers all of a sudden; if you cannot accept that EY is not cutting off the low performers on PIPs first; you should demand an explanation from EY because you could be the next victim.

We can never be satisfied as long as any one of these employees is the victim of EY’s dishonesty!

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Post ID: @OP+16UJJtr6

4 replies (most recent on top)

Report this injustice to EY ethics hotline https://www.ey.com/en_jp/ey-ethics-hotline

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Post ID: @Bvmz+16UJJtr6

A lot of people were high performers on track to partners Putting in hard work and dedication. Their performance appraisal have been very good every year and documented as such. No previous discussions on low performance or on a PIP. The truth is that they cannot promote as many people anymore to partner (and they don’t want to as they want external admits) as they used to promise or publicize as nobody would start at EY or dedicate as much hard work as they did. The people let go are let go because They believed in EYs growth and promotion strategy.

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Post ID: @2rdz+16UJJtr6

This approach should become a Public Relations nightmare. No companies with integrity should ever conduct business with EY. Employees impacted - it’s called defamation! Go after them. EY should have been honest like others employers and called it a layoff. Disgraceful leadership. Corporate greed in action. And for any company, let alone a New York based firm to put employees on the street on 9/11 is disgusting.

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Post ID: @gox+16UJJtr6

How many people were RIFed and which location & department?

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Post ID: @wau+16UJJtr6

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