FT
Deloitte to let go of 1,200 US workers
4/21/2023
Deloitte is joining the growing list of companies that are letting go of workers in the US. Recently, the company told its staff that it would be letting go of around 1,200 US workers.
Recently, Deloitte's competitors, KPMG and EY, have also decided to let go of their workforce. KPMG said it would let go of 2% of its US workforce, while EY said it would let go of 5% of its US workers.
EY said that they would let go of 3,000 people, with other companies like McKinsey and Accenture sharing that they would also let go of a section of its workforce.
Per its website, the company has about 330,000 people in over 150 countries and territories. The report by FT specified that the company's job cuts would result in 1.5% of its US workforce.
A Deloitte spokesperson gave a statement on the situation explaining the company's decision to let go of the staff. They explained their plan to take "modest personnel actions" when needed.
“Our US businesses continue to experience strong client demand... As growth in select practices moderates, we are taking modest personnel actions where necessary.”
Recently, there was talk that Disney could downsize its entertainment division by eliminating 15% of its workforce. This came from people that were familiar with the matter and the company denied to comment on the news.
Per those familiar, the company said it wanted to eliminate 7,000 positions to help it save costs.
With the rise of ChatGPT, there is a growing fear that it could replace software engineers. Should this happen, a report highlighted how India could be the most impacted due to the country having the most coders.
India has over 5 million coders, and should ChatGPT eliminate the need for more software engineers, this could greatly affect the jobs of coders within the country.
See flow at unusualwhales.com/flow.
Other News:
- Disney could downsize its entertainment division by eliminating 15% of its workforce
- If ChatGPT's technology replaces software engineers, India would be impacted the most
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