Deloitte Australia Sacks 700
SYDNEY: Professional services firm Deloitte has reportedly laid off seven percent of its 10,000-strong Australian workforce – or about 700 jobs.
Most cuts have been made across Deloitte’s business units and internal client service departments, according to a Deloitte spokesperson. However the spokesperson said there have been no staff reductions in Deloitte’s external audit practice, which is entering “a busy period” at the end of the financial year.
The sackings follow an earlier move in April, when staff were asked to take a 20 percent pay cut for five months. For some that’s been followed by marching orders.
Deloitte Australia CEO Richard Deutsch noted that the company had experienced a “significant decline” in its revenue base in the latest quarter, including a year-on-year drop of 19 percent in May.
He blamed the downturn and the decision to cut jobs on the impact of Covid-19. “The health, safety and wellbeing of our people are central to our purpose and values as a firm, so this has not been an easy day,” Deutsch said.