We are a little late on this, but WebCPA and Wall Street Journal report that Deloitte USA plans to layoff 900 staff or about 2% of its 45,000 US employees, according to their spokesperson Deborah Harrington. There seems to be no official statement that at least we can find on the Deloitte.com website. But we finally did personally see the Wall Street Journal article...
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I work for Deloitte; I cannot tell you how many times I have been told our colleges in India are considered part of the US work force. How many layoffs have happened over there? Seems the American workforce is disposable all in the name of greed. Why don’t we cut their jobs first?
If the US consultants start getting paid like their Indian counterparts I am sure there will be as few lay offs here as there are in India
KPMG is laying off people and it's using India (as part of its global leverage program) to cut headcount. It's being positioned as a way free up time, but it's about cutting jobs in the U.S.
In general, the india workers for EY, Deloitte, and KPMG are all contractors (meaning they receive only a 1099 form). The firms do not cover their medical, and they are not required to withhold for American taxes such as social security and medicare. They are a lot cheaper and a lot less risky because of this.
EY is laying off people too in most of the practices to reduce cost (Advisory, Core Business, Information Technology, etc...)
Deloitte laid off 17 partners in CIS markets alone, about 30-40% of the audit personnel. What is bad sign, that they are laying off them without paying severance compensations. Most of the layoffs are motivated internally that laidoff employees were not so good, and this is after recent promotions and raises.
There has been 3,000 laid-off at Deloitte which far exceeds this articles claims.
"EY is laying off people too in most of the practices to reduce cost (Advisory, Core Business, Information Technology, etc...)"
Can anyone comment on the number of people being laid off at EY in each practice?
People always hate to talk about when they are laid off. But as it has become every day's news headline since Yahoo started it with cutting 1500 of its task force last year, now a need of platform has been in demand where people can express their selves in words how they are feeling about their company, whey the got laid off was that justified or not.
And every thing they want to tell anonymously.And www.layoffgossip.com is providing you that platform.
Jason Harper of New York's Deloitte & Touche located at 2 WFC has passed away this week. He was a Principal and head of diversity for over two decades, the firm did not even put this info of his passing on Deloittenet. For those who are interested his funeral is to be held on Monday in Maryland, he leaves behind a wife and 4 children. He was 48 when he passed.
Actually the sad passing of Jason Harper is on the front page of Deloittenet.
Yes, I saw that too. It is on Deloittenet today that Jason Harper passed away. Apparently when the first person posted the comment yesterday it was not on Deloittnet, but today it is head news on the site. I worked with Jason, I am a senior manager at Deloitte and I cannot begin to tell you what a tremendous loss this has been to me and everyone else who he has known at Deloitte. I extend my condolences to his family through this difficult time.
Indranil writes that if the US workers get paid like their Indian counterparts, we wouldn't be laid off. If the Indian counter parts are living in "poor" conditions due to the pay they recieve, then I agree. If not, then it's all relative and if you are a US Based employer, you should look out for US employees first.
More layoffs at KPMG were effected yesterday in Mclean, more to follow from other big four firms after busy season.
The US Government is firing Americans and replacing them with Indians. This is being done through the big accounting/consulting firms that get the big government contracts. The American contract employees are being replaced with Indian ones. You can't eat off of the fat of the land and then turn around and screw the people who are hiring you. All US Government contractors should be American citizens. econo-girl.blogspot.com
Steve - Its all about being competitive in a global economy. Whether in US or India, if you can get the same workdone at lesser pay, you will be preferred.
Yes, Indians are living in "poor" conditions as compared to US counterparts. There is no excessive disposable income available for Indians as it is for US employees.
Deloitte is the most ruthless of all Big4. They hired about 80 people in Oct and laid off over 45 already. Within 6 months it downsizes based on poor economy. This is their walking stick for poor planning and management. They will hire another 50 this fall and lay them off after the busy season is over. And then the firm boasts about posting healthy results, optimistic statements from the CEO etc, support immigration, etc etc. bunch of !@#$%. Graduates look up to this company as a dream job, but it belies all hopes. I may sound disgruntled since I have been a victim of this recently. India team may be poorer but lot more secure than the ones here.
I am an USC undergraduate student who is seeking an internship or entry-level position. Does Deloitte's lay-off will decrease the demand for entry-level positions as well or the opposite?
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