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(UPDATE) Layoffs Watch ’12: A Lone Wolf in KPMG Forensics

Posted on by Caleb Newquist

The aforementioned forced rankings appear to still be taking effect. A tipster laments:

I just got laid off from KPMG's Forensic practice in Los Angeles [and] there were a few other associates in my group that got laid off as well.

Our tipster claims that this is only happening at associate level although the layoffs in tax and audit were hitting seniors, managers, and senior managers as well. The IT advisory cuts were rumored only to have affected associates.

If you've recently been served up something cold (other than ice cream), drop us a line.

UPDATE:
Someone else got in touch with us and it's entirely possible that this is an isolated incident:

This is just shedding completely unnecessary weight. One guy let go because he sucked, and now he's going around the world telling everyone about layoffs.  Reality – guy should've been fired, partners felt bad and laid him off instead. 

Do us a favor, L.A. forensics – get in touch and help us straighten this out once and for all. This is cutting into our Dutch field hockey research.

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KPMG Global Plans to Hire 75,000 New Grads Over The Next Three Years, But Not Here

And they decided this information was so important that they had to send out a press release telling everyone about it.

KPMG’s member firms will hire approximately 75,000 campus graduates worldwide over the next three years, representing a 25 percent increase in the firm’s historical on-campus resourcing target.

The global member firm network has identified a need to hire approximately 250,000 new hires over the next five years and graduate recruitment plays an essential role in meeting the firm’s long term global growth strategy. New hires will be integrated into all of KPMG’s functional areas – Audit, Tax, and Advisory, and Internal Firm Services.

“While KPMG’s firms plan to hire a large number of new graduate employees, it’s important to note that our focus is about more than simply high volumes – it’s about recruiting top talent to drive our growth now and into the future,” said Alim Dhanji, KPMG’s Global Head of Resourcing, KPMG International. “To attract the best, we offer new graduates the opportunity to work alongside talented professionals in 150 countries, solving complex client issues and making a difference to some of the world’s most prestigious organizations.”

Don’t get all hot and bothered about this one, sophomores and juniors, it looks like a large chunk of KPMG’s new “top talent” pool will be out in the Asian Pacific. They call the region “one of KPMG’s strongest performing regions” and “a pillar within the firm’s global strategy.” Uh huh.

Remember, the economy doesn’t suck everywhere around the world.

“Globally, we are seeing a revitalized labor market, with students seeking international work experience, which we’re able to deliver on,” says Dhanji. “The competition for top talent is fierce. To attract the best, we offer programs that place students at the heart of our business to fully develop their global mindset, which will in turn enable them to realize their full potential and help us to deliver on our business goals.”

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Bonus Watch ’10: There are Some Unhappy KPMG Kampers in California

At least it was a short week!

Looks like promotion bonuses are available to view under Self Service Connection for those who got promoted. 2nd year promote to senior (high SP rated) in specialty advisory (N. California) = 1.25% or $700 in my case. What a fucking joke…working for 2 years and I’ve been making progressively less and less money every year when you factor in a signing bonus in 2008 and a CPA bonus in 2009.

Keep in mind that the promotion bonuses are only for the “stub period” of July-September until the full year bonus/raise come into effect. I’ve also been told by numerous people not to extrapolate the stub period amount to a full year amount. Good thing they said that cause if 5% is my full year raise after 2 years of nothing, I’m out of here before you can spell GAAP.