Recently, KPMG in the United States laid off 1400 people.

Involving audit, consulting and tax business lines.

At the same time, take salary reduction measures for 125 employees.

KPMG layoffs

Is the domestic job fair affected?

Are the Big Four still worth joining?

First, KPMG laid off staff 1400 people!

According to Business Insider, in response to the COVID-19 epidemic and economic downturn, KPMG laid off 1 400 of its 35,000 American employees, including 194 tax collectors, 189 auditors and 396 consultants, and 62 1 business process group employees.

At the same time, the salary of 125 tax employees was reduced.

In fact, at the beginning of the year, the wave of layoffs in the United States has already swept through. For example, Deloitte laid off 5% of its staff, and 5,300 employees were affected, including 2,500 employees in the consulting department.

At this time, Lynne Doughtie, the former CEO of KPMG, bravely stood up as an umbrella and gave everyone a reassurance.

American CEOLynne Doughtie said that protecting KPMG employees is her top priority.

In addition to on-the-job employees, job seekers in 2020 have also been promised. The Wall Street Journal reported that three accounting firms represented by KPMG (KPMG, PricewaterhouseCoopers, Ernst & Young) all made it clear that the OFFER already issued is still valid, and the recruitment plan for fresh graduates in 2020 will not be affected by the epidemic.

Now, I got hit in the face.

With Lynn's departure, the promise passed the shelf life. KPMG not only laid off thousands of employees, but also significantly reduced the salaries of existing employees, even more than the other three.

So, love will disappear, right?

Second, KPMG, which is constantly in turmoil.

In addition to chilling layoffs, KPMG's reputation has been questioned. In the past two years, KPMG has been involved in several negative news stories across three continents.

1, involving political scandals.

In 20 17, South Africa was severely criticized by the outside world for the political donation scandal involving KPMG South Africa's notorious Gupta family.

The South African media broke the news that the huge cost of a luxury wedding of the family was included in the expenditure item of Linkway Trading, which is related to the Gupta family investment group Oakbay Group. The latter's funds were allocated to dairy farms by the South African government. This caused public outrage in South Africa, and the Gupta family was accused of money laundering and misappropriation of government funds.

However, KPMG, which is responsible for providing audit services for Linkway Trading, did not point out this behavior and signed an unqualified audit report.

2, the audit dereliction of duty, investors lose everything.

In 20 18, Carillion, a British construction giant with a history of about 200 years in Europe, went bankrupt and liquidated due to huge debts and the bank's refusal to lend. This is the biggest bankruptcy case in Britain in ten years, which shocked regulators.

In Carillion's last annual financial report, KPMG said that the company has sufficient strength to "survive for at least three years".

However, less than three months later, Carillion claimed to have overestimated its income, cash and funds, and immediately filed for bankruptcy, resulting in more than 40,000 employees being forced to face unemployment and stock investors losing all their money.

In a report in June, the Financial Reporting Committee, a British accounting watchdog, pointed out that KPMG had huge defects in auditing Carillion. Although all parties are at fault, KPMG's audit is indeed dereliction of duty.

3. Stealing secrets, peeping and cheating

20 18 in north America, the SECurities and exchange commission (sec) sued three former senior partners of KPMG in the United States, accusing them of using KPMG's position as a bait to improperly obtain and use confidential information of the annual review from three former employees of the accounting oversight board of American listed companies (the accounting oversight board of American public companies) in order to prepare for the review in advance. The regulatory authorities compared the incident to "stealing test papers."

The SEC investigation results show that KPMG's audit supervisor not only tampered with the company's audit documents, but also peeped at the evaluation results of competitors in the evaluation information of the American Public Company Accounting Oversight Board in order to win more business for the company.

Just like when the SEC handled it, KPMG was exposed to "cheating in the exam" and "manipulating scores" with other employees, which can be described as bad.

Is the third and fourth largest still worth choosing?

Under such circumstances, KPMG has made many students majoring in accounting and finance worry about their personal future. Are the Big Four still worth joining? Is China affected? Where is the job search going?

In fact, worry can exist, but don't worry too much!

1, treat negative news normally

The negative news of large enterprises has affected the overall image and business of the company, but it has affected other irrelevant employees, and most of them have little impact.

At the same time, we should also understand that the bigger the company, the more negative news. As can be seen from the above cases, negative news is often deliberately made by some people, so when you are in it, just be yourself and don't get involved, which won't have much impact on individuals.

2, layoffs, but also recruiting people.

KPMG's layoffs are a helpless move under the epidemic situation, which is affected by many factors in the objective environment, such as the gradual downturn of the consulting business line, which cannot support heavy operating costs; For example, in order to improve people's efficiency, we should kick out those old antiques who have poor internal skills and fish in troubled waters.

Looking around, the four major accounting firms in most parts of the world have lost more or less weight, and the consulting post is undoubtedly the worst in the whole year.

But the whole accounting industry still needs more fresh blood to develop in a good direction. Therefore, although the four major accounting firms (the United States) have all laid off employees, their recruitment continues at the same time. However, there are few jobs and it is difficult to apply online. This requires that only recruiters who constantly improve their abilities can stand out in the fierce competition.

3. It has not affected the four major domestic companies.

Fortunately, KPMG layoffs did not spread to China! On the contrary, there are four departments that expand enrollment against the trend.

For example, in July and August this year, many of the four major domestic companies issued the news of compensatory growth trend/enrollment expansion!

On July 16, Ernst & Young announced the enrollment expansion notice:

Then, KPMG also released a wave of remedial measures in 2020:

In addition to enrollment expansion and recruitment, the Big Four also relaxed the requirements for fresh graduates. Deloitte officially released the news:

4, expand the scope of choice

For students with relatively poor academic background, there are actually other companies besides the Big Four that can be considered. There is no need to hang yourself from a tree. There are more and more excellent companies emerging in the whole market, such as the Big Eight.

At the beginning of this year, the ranking of IAB global accounting firms was announced, and domestic firms: Shinyong Zhonghe, Tian Jian and Da Lian were listed one after another. At the same time, among the most worthwhile accounting firms announced by Vault, Duty International ranks eighth and Ruihua ranks tenth, which proves the strength and potential of the top eight in China.

Compared with the Big Four, the recruitment process of the Big Eight is not so strict, so the entry threshold is slightly lower and the project cycle is short. It can not only reach many industries, but also enable newcomers to grow rapidly. Moreover, the top eight do not lose the top four in terms of promotion channels and salary.

In short, there are many opportunities, but not every opportunity should be seized. It is most important to find the one that suits you and plan your time well.