Big Four firm KPMG lays off 700

Alhamdulilah for everything, always. Yesterday I received an email from HR indicating I was one of the employees impacted by the KPMG layoffs. I cannot believe I’m typing this right now, but what I do believe is that as this decision was for the best interest of KPMG, it will inshaAllah be for my best interest as well. This post is more so for those giving up their lives for their corporations. Let me tell you this - You are replaceable, and not a single job out there is worth your mental health. Looking on the bright side of things, I made a huge network of amazing people and friends and developed numerous skills throughout my deal advisory journey. Here are some of the things I’m proud of accomplishing - Call it a brag, I’ll call it my professional achievements: - As a senior associate, I brought a ~$300k private equity deal for an award winning business - I led and helped close 4 private equity deals and 5 corporate ventures - I worked on expanding the firm’s business resource groups by highlighting minority employees, most specifically the Muslim and Arab communities - Participated in various recruiting events with NIU students - Spoke on multiple panels on behalf of KPMG - Volunteered at multiple KPMG sponsored nonprofit organizations Here are some of the behind the scenes for all the above: - Stayed up till 3 am at times to deliver client reports - Volunteered my firm’s holiday break?to meet engagement deadlines - Missed out on family occasions?and dinners - Spent 5+ hours/day in my commute to/from the office - Sacrificed my health during sickness to be on par with team expectations I want to give the biggest THANK YOU to my family, my biggest support system, for being there for me even when I lacked to give them the time and love they deserved. At the end of the day, you’ll always have your family on your side. That said, know your priorities. Put your family and health first no matter what life throws at you. I’m not saying don’t work hard, but in most cases you’ll still be a number to your employer regardless of your contributions or whatever you brought to the table. I’ll be actively searching for a new chapter, and till then I’m taking some time to reflect and spend time with my loved ones. To all my colleagues/friends that were impacted, and to all others experiencing the same during these tough market conditions, I’m here to support. Keep your heads up high. We’re all in this together, and the best is yet to come. InshaAllah. #alhamdulillah #layoffs

KPMG to layoff about 700 employees. Of course, we do not know how many of these will be on H-1B, L-1A or L-1B, or have adjustment pending based on a PERM labor certification and I-140. However, as of 10/2019, KPMG had 5,207 approved L-1 petitions, and many of their H-1Bs were for managerial or senior positions. Of course, those with H-1B may port to a new employer within 60 days of being laid off, and those whose adjustment applications have been pending for at least 180 days can also change jobs as long as the new position is in the same or similar occupation and the new employer can pay the prevailing wage. For those unfortunate folks who are on L-1, the situation is much more difficult, and they would have to change to another nonimmigrant employment category, see if they could get derivative status from their spouse, go back to school or just return to their home country and fight another day. #KPMG #layoffs #H1B #L1 #L1A #L1B #PERM #adjustment https://lnkd.in/eyvw4gQa

Yesterday, I received the unfortunate news that I was one of 700 professionals being laid off in our Advisory group at KPMG. While shocking and disappointing, I am grateful for my time there. I’ll miss both my clients and my colleagues. Now is the time for the next step. I’m #opentowork and ready to rock. Whenever we start a new journey, the road looks long and hard, but I’m looking forward to the road ahead and wherever it leads.?#grateful

For 2023, KPMG says it is "likely investments in crypto-focused firms will remain very slow" and a potential shift "in investment to jurisdictions with stronger regulatory frameworks for crypto activities." #crypto #cryptocurrencynews #singapore

Layoffs spread beyond tech. One of the early signs of a wider talent and labor issue is emerging beyond the big tech firms. KPMG is cutting close to 2% of its workforce in the United States, Looking beyond the headlines there are a few things to keep in mind ? Layoffs aren't a direct result of the economic situation right now. Why? - from 2020 companies have been beefing up from an already beefed-up line up of talent. This continued shedding light on cracks in the system which no longer make sense. It only took one to have the courage to cancel reduce and even reform projects that were under performing under the pretext of "layoffs" ? A second wave is coming which is a delayed impact from a real economic impact This translates into continued hiring but at lower compensation packages. This will tighten the labor market and create even more havoc. Inflation continues and its staying for a while so big spending is over. Let's keep an eye and see how this pans out #tech #hiring #projects #talent #layoffs ?? Comments below what do you think is behind this. https://lnkd.in/dz7KQgwj

KPMG is cutting close to 2% of its staff, or about 700 people, in the US after a sharp slowdown in its consulting business. https://on.ft.com/3YOSg6p

KPMG is cutting close to 2% of its staff, or about 700 people, in the US after a sharp slowdown in its consulting business. https://on.ft.com/3YOSg6p