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 Sept. 30).
The VC program is so low at US KPMG, people understand and accept the hit. Very happy we are not doing layoffs at this point in time. That’s the mood of the crowd.
It’s not a lot and it’s worth it to keep our jobs. Many of us wouldn’t be surprised to take a pay cut.
But again consensus has been as long as it means no layoffs, we can withstand it without too much complaint.
Hiring freezes
Reduced capital investment
Eliminating cash Encore awards
Eliminating summer gifts to employees