You’ll recall earlier Firm Spy posts in respect of Accounting Firm job losses, including:
- the first wave of PWC redundancies;
- the second wave of PWC redundancies;
- the KPMG redundancies;
- the Goldman Sachs JB Were redundancies;
- the deferral of PWC graduate positions; and
- the cancellation of graduate positions at Fordham.
Today, the Firm Spy can reveal another devastating blow to the Accounting Firm sector; the sacking of nearly 100 staff at ‘Big 4′ constituent Ernst & Young.
An EY Firm Spy gave the following synopsis of the rationale behind the sackings:
‘people on certain clients, people who didn’t have a strong enough profile within the firm, people who didn’t spend their whole day smooching partners. For grads, it was based on chargeables… [but] we are [still] recruiting for 2010… A large number of the staff who got retrenched were in fact top performers ranging from graduates to managers. That’s right- they even sacked people who had only been with the firm since July.’
Do you believe these redundancies were well handled? Share your views and news!
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