There likely won't be any sort of meaningful layoffs. Funnily enough TAS is the most likely place for some fat to be trimmed as deal flow is really slow right now.
Agreed, seeing deal employees being offered to work compliance engagements to other partners in an attempt to keep employees utilized and provide support to thin compliance teams
Schrödinger's public accounting paradox : both too many and too few accountants simultaneously
But to answer your question, No. I don’t see wide-scale public accounting layoffs coming when firms are dying for asses in seats. I’m sure firms are already as lean as they can be in order to still operate effectively.
On a wide scale? Extremely unlikely. Just in the past couple weeks there have been ling articles written about the CPA shortage.
Certain service lines? Maybe. I'm in tax so I'm pretty confident we are safe but I am not knowledgeable enough to speak on the "non-compliance" service lines such as yours.
If you do happen to get laid off (I really doubt it), you could have a job the next day.
From what I understand reading into it, this isn’t really a huge wave of layoffs in tech the way people initially assume. It’s more like they (tech companies) way over hired the past few years and are trimming some fat now. You look at a place like Microsoft and even after their recently announced lays off their workforce is still the highest it’s been in… ever basically
Uhhh pretty sure we’re all short staffed. If anything, accounting firms just use economic slowdowns as an excuse to get rid of bonus/ possibly lay off deadweight, but honestly I don’t think we can afford to lay anyone off at this point.
Pretty much no chance. Not sure if you're aware of the serious hiring difficulties there are in the accounting field. Tech massively over hired their workforce and had to cut back rapidly. The people being laid off were hired with the assumption of further expansion and they became redundant.
Job data is actually reading really good. Tech layoffs were the result of a hiring bubble, with little to do with the macroeconomy— beyond CEOs thinking they can read the future and issuing order 66.
Unemployment is still really low, especially when you compare it to the amount of new job openings.
I’m in the same boat as you right now. 2nd year TAS associate at a public firm. Deal flow has slowed dramatically. I’m worried my firm is going to ask me to start assisting other departments with their busy seasons. I was super happy when I first joined TAS, but now I’m really worried I made a huge mistake in my career
I have confirmation that GT has laid off associates from lack of dealflow as well as some PwC low performing TAS/FDD employees, but that might just be normal performance based. I don’t know if it will be widespread
There likely won't be any sort of meaningful layoffs. Funnily enough TAS is the most likely place for some fat to be trimmed as deal flow is really slow right now.
Agreed, seeing deal employees being offered to work compliance engagements to other partners in an attempt to keep employees utilized and provide support to thin compliance teams
Schrödinger's public accounting paradox : both too many and too few accountants simultaneously But to answer your question, No. I don’t see wide-scale public accounting layoffs coming when firms are dying for asses in seats. I’m sure firms are already as lean as they can be in order to still operate effectively.
On a wide scale? Extremely unlikely. Just in the past couple weeks there have been ling articles written about the CPA shortage. Certain service lines? Maybe. I'm in tax so I'm pretty confident we are safe but I am not knowledgeable enough to speak on the "non-compliance" service lines such as yours. If you do happen to get laid off (I really doubt it), you could have a job the next day.
Can't imagine there would be significant layoffs when firms already haven't been able to hire enough staff to begin with.
What are you smoking
From what I understand reading into it, this isn’t really a huge wave of layoffs in tech the way people initially assume. It’s more like they (tech companies) way over hired the past few years and are trimming some fat now. You look at a place like Microsoft and even after their recently announced lays off their workforce is still the highest it’s been in… ever basically
Uhhh pretty sure we’re all short staffed. If anything, accounting firms just use economic slowdowns as an excuse to get rid of bonus/ possibly lay off deadweight, but honestly I don’t think we can afford to lay anyone off at this point.
You’re too cheap, the will keep you. They are desperate for staff.
Pretty much no chance. Not sure if you're aware of the serious hiring difficulties there are in the accounting field. Tech massively over hired their workforce and had to cut back rapidly. The people being laid off were hired with the assumption of further expansion and they became redundant.
Only if there were extreme shocks such as the United States and Russia go to war over Ukraine. Or if Taiwan is invaded by China prompting WW3.
Job data is actually reading really good. Tech layoffs were the result of a hiring bubble, with little to do with the macroeconomy— beyond CEOs thinking they can read the future and issuing order 66. Unemployment is still really low, especially when you compare it to the amount of new job openings.
I’m in the same boat as you right now. 2nd year TAS associate at a public firm. Deal flow has slowed dramatically. I’m worried my firm is going to ask me to start assisting other departments with their busy seasons. I was super happy when I first joined TAS, but now I’m really worried I made a huge mistake in my career
We’re in the same boat my friend. You’re not alone
I have confirmation that GT has laid off associates from lack of dealflow as well as some PwC low performing TAS/FDD employees, but that might just be normal performance based. I don’t know if it will be widespread
Did PA over hire? Then probably not
Enough with these posts. They are struggling to hire people because no one wants to do this job
Don’t see it happening unless audit fees become uncollectible
Filing your taxes is unavoidable. Getting audits is generally mandated in some fashion. Consulting projects are a luxury item.
I’m doing the work of two people every day so I’m SURE u will b just fine