Punit Renjen, the Global CEO of Deloitte, applauded the company’s financial dominance in the industry, at a time when there are massive layoffs in the firm across the various operations internationally. The CEO’s comments were not received very well by the thousands of the sacked employees; the company has sacked over 10000 employees.
Highly Upbeat Tone of Deloitte CEO Amid Layoffs
The company-wide email from the CEO talked about Deloitte’s high stakes in the market and was rather celebratory, and it contradicted the current crisis. The email hinted that the company will emerge stronger by the end of the year. Deloitte predicts to attain a global revenue of 48 Billion dollars that is around 6 percent growth making it the largest consulting firm by revenue in the world.
The company has maintained the rank of largest professional services provider for long since 2016 after beating by PwC.
Contrasting to the current situation
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The email comes across as something upbeat and controversial contrasting to the current situation where the firm has sacked thousands of employees. Even though the firm has maintained its strong position in the Big Four of Consulting Division beating rivals PwC, KPMG, and Capgemini, the environment is still gloomy across firms amid massive sackings.
CEO talked in high spirits
The CEO told the staff that the company had maintained a good position in its latest annual performance, which is instrumental in its aspiration of undisputed leadership. The email said that
“pandemic impacts that journey – the story of FY20 being a tale of two halves – but it does not change the trajectory.”
Tweet Re-affirms his stance.
Punit Renjen also tweeted about the commending the firm’s performance during the lockdown. He wrote,
“Deloitte has a long history of helping our people, clients, and communities thrive through wars, recessions, and pandemics. Resilience is a part of our DNA as we continue to make an impact in the age of Covid-19.”
Layoffs across geographies
The outlandish tone of the CEO might have offended quite a few who have been asked to leave in recent months. Deloitte has laid off around 7500 professionals globally, including India, Australia, Canada, and the US.
The bragging tone of the CEO might leave the laid-off employees wondering that if the company was having such a high performance throughout the year, then why were layoffs made, and they were not supported at the time of the covid crisis?
More layoffs projected
The former staff members may thus not appreciate the upbeat comments by the CEO, to worsen the situation more layoffs are predicted as the company plans to strengthen its financial position after being hit by Covid 19.