Our COO mentioned in the COVID-19 update call that they will consider layoff and furlough after performance review (results usually come out in June).
All I got from my practice lead was that we’re doing better than expected from the client service hour standpoint.
Does anyone have more insights into the possibility of laying off people by business and the estimated scale?
I've recently been let go by Deloitte. In my line of business it was pure vendetta and revenge tactics which was applied. I had billable work till end of September. Yet they send you a meeting invite in the morning for a discussion 2 hours later. The partner comes in the call. Asks you if you are in a private room coz its bad news. Of course I knew that - the partner would never send me a meeting invite for any other reason than this. He doesn't give any explanation on why my name was chosen, the standard reply - COVID workforce reduction. He did explicitly mentioned this is NOT due to performance. My Team and managers concur with the same. Anyway long story short, I was on their hit list. The D firm was looking for an excuse to tick me off their list. What is surprising for me is the fact that the partners of my LOB didn't follow guidelines from the CEO to minimize expenses and get as many $$ in the bank as possible. My LOB partner kicked away the $$ sitting at his feet to satisfy his ego. This is going downhill !!!!
It's amusing when, in the absence of an unsuspecting target, hoodlums start shooting one another because it's their nature - please continue to "transform" your own organization, and advise yourselves that hard choices need to be made. See you on the street.
Yeah the call with Pete didn’t look to promising. I’ve already started looking externally and I know a bunch of my colleagues are doing the same.
I spoke with my counselor today and she basically said we lay people off based off of “performance” every year and there hasn’t been any decisions made yet.
At least we have jobs until the performance process is over lol... so mid July?
I think there will be a round in the fall. They will call it performance related.
We had about 900 let go over sept-dec in 2019 for the same reason. I bet this year will be bigger.
I’m in consulting, too. This is consistent to what I heard so far: minimal to 0 raises/bonus. The leadership did mention that they will look at layoffs and furloughs after performance review.
I thought it’s going to be delayed raises and no bonus to avoid lay-off.
@jqe He said not yet. He also said the first lever to be pulled in partner unit payout. They have not done that, but have already pulled the "low to no raise/bonus" lever. So already he has not been honest.
Additionally, if you watch his call from Friday the deck shows clearly "+/-" for salary adjustments. Meaning cuts are on the table
Deloitte Consulting CEO said that we are not going to reduce the headcount. Like any other year there are people that leave or have to be laid off and that is normal
I was hoping to know if other Deloitte employees have heard anything more specific or anything different from their leadership. Our client service hours and revenue are still strong in Q1.