In progress...
- 5% across-the-board Deloitte US headcount reduction, effective early June. This is average; some practices will be hit much harder than others based on market projections.
- Affecting up to level of Partner (presumably they will be allowed to retire comfortably?).
- Separation conversations begin next week w/Talent for Deloitte US (later in June and into July for USI?).
- People who are let go will have a combination of salary and benefit continuation (what % not indicated), some additional amount in a separation package, 100% payment for remaining PTO, help with unemployment insurance claims process.
- Additional impact in form of reduced work schedules; impacted employees working ~80% of normal FT equivalent was mentioned, but potentially even greater reduction; executed as reduced work week and commensurate reduction in comp.
- Workload modification conversations start mid-June, in effect in mid-July for Deloitte US.
- Reduced workload employees won’t lose benefits (not said: whether employee’s share of benefit costs in % or raw $ contribution will go up).