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In arguably the clearest indication that the corporate firms largely disagree with economists forecasting an end to the GFC, Deloitte and Ernst & Young are slashing their graduate intakes.
As reported in the AFR (6/7):
Deloitte will cut its graduate intake by as much as 30% to 350. Ernst & Young expects to start 350 graduates next year, compared with a 2009 intake of 425… PriceWaterhouseCoopers and KPMG are still completing their plans. If KPMG does scale back its intake it will be the second year in a row.
The disagreeably garish Giam Swiegers made the following insightful comments on Deloitte’s reduction:
We have a little bit more breathing space this year, there is not as much urgency as there was in the last two or three years.
a jobless graduate breathes easy
Meanwhile, E&Y spokesperson Gillian Lamrock said:
We believe it’s critical that students continue to see long-term career options in the profession, and while the 2010 intake numbers will be less than 2009, we’re focused on the medium to long term, and are committed to all our programs in 2010.
So Gillian and E&Y are committed to taking less grads, but are trying to perpetuate the idea that they are still doing everything possible for the profession, while Giam is breathing easy. Send the Firm Spy your news and views!
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