Chartered Accountant (CA) Designation Revealed!

Online Accounting Community for Students

Friday, April 24, 2009

Big 4 Firings after busy season

You're Fired!

No, not me. I still have a job =), but today's topic is about big 4 layoffs. This should come as no surprise to anyone in the current economy.

I've been hearing left and right about who exactly is fired. My firm was affected, as were all big 4 firms. Some of my unfortunate friends were also laid off. I'll talk a little bit about the process.

The partner or manager schedules a meeting with you. Usually someone with HR is also there. They talk about the economy and how service needs are declining. Then the partner hits you with a:


"Due to the market change for advisory, your skills are no larger needed, so we are letting you go"


From one of my friends in IT, your laptop is immediately confiscated and returned to IT. In fact, IT is asked to change all your passwords so you can no longer log in. This is probably a good thing. If you were a loyal employee, you'd be pretty pissed off and could wreck havoc on the server. One of my friends from IT told me a computer was returned to him where the person was in the process of writing an email.

Ouch. Ugly.

Some firms are nicer than others. They'll let you write a goodbye email. However, you are not allowed to say you are fired.

Other firms are not so nice. They have an escort, security guard, to take you out.

Who got fired?

It seems like a wide range of people got fired.

Seniors, senior managers who were not top performers got axed.
Intermediates about to become seniors got axed.
People about to go on UFE leave got axed.
People on maternity leave got axed.
Co-ops got their terms shortened. I haven't heard any stories about co-ops getting axed.

Surpringly, almost no juniors got axed. It is probably because they provide the cheapest labour rates and are willing to work like slaves.

Of the people who got fired that I know, some were actually strong performers. I'm actually very surprised that they got fired. One possible reason is that anyone who failed the UFE, regardless of their performance got fired.

Another friend told me partners go into a big conference room, put up pictures of everyone, and throws darts. Whoever the dart lands on gets fired. It seems outrageous ,but the firings have been very random and very unexpected. =(

I know the economy is bad, but firing someone after busy season is just mean. No matter what their performance, they all worked like slaves for you.

Even a "bad big 4 performer" is someone who works OT for you, complains very little, and gets the job done. I mean they still had to be really good to get into a CA big 4 firm in the first place.

Big 4 layoffs are further proof that the whole "WE have a shortage of CAS" ICAO bs advertising is really bs. Just like the IT meltdown in 2001-2002, the people who did it for the money were easily flushed out and out of a job.

I will keep you updated on the situation.

3 comments:


  1. Pertaining to YSL, 1966 proved to be a crucial calendar year using a few of his or her signature bank patterns prada replica released, such as females trouser go well with The Using tobacco. Your trouser go well with proved to be essentially the most well-known along with important YSL design and style. That's in addition 4 seasons if your 1st able to don series became available using breitling replica uk the intention of democratizing manner. Your home carried on for you to develop, rapidly adding addition collections along with adult men along with females aromas. It can be interchangeable using fashion along with classiness even today. Your Prada property was named Fratelli Prada, Italian to the Prada Friends, along with hublot replica uk ended up being founded throughout Milan by simply friends Mario along with Martino Prada throughout 1913. Your friends built okay natural leather merchandise along with high-class equipment, generally made out of abnormal themes, including alligator along with walrus. Your home would not get prolonged to generate recognition. Throughout 1919, these folks were selected a state company on the Italian royal house. Throughout 1977, Miuccia Prada, Mario's granddaughter, needed in the organization along with the girl proved to be a terrific hublot replica uk good results. The girl quit offering various other makes inside keep along with centred in re-doing your Prada initial bags along with ladies handbag patterns. Throughout Sept 1978, Prada equipment built his or her 1st visual appeal accepted. With the next calendar year, your totes seemed accepted also.


    ReplyDelete