deloitte in the news today
"The cuts will hit the firm's consulting and advisory businesses hardest, with the busy external audit practice spared any reductions.The lockdown has seen clients cancel or delay consulting projects, with the firm also having to contend with growing price competition in the market.Staff in the firm's financial advisory team expected to see redundancies last week, but hoped strong performers would instead be redeployed to busier divisions such as audit and assurance.In an earlier partner webinar at the end of May, Deloitte chief operating officer Andrew Griffiths reported that the firm's utilisation of 65 per cent was 5 percentage points behind planned levels.Audit and assurance work remained strong, however, with the division working at 77 per cent utilisation.Financial advisory sat at around 60 per cent utilisation while consulting work sat in the mid-60s. Through research, growth perspectives, case studies and more, Deloitte Insights keeps CMOs informed on the topics that matter most. All Deloitte News … "From the beginning of the COVID-19 crisis two of our important principles have been to preserve as many jobs as possible while also protecting the long-term sustainability of the firm," CEO Richard Deutsch said. Travel and accommodation costs were down by 75 per cent in May compared to April, and the firm was tracking ahead in its net cash position.Globally, Deloitte expects a strong finish to the 2020 financial year despite the effects of the COVID-19 pandemic and has forecast global aggregate revenue of $US48 billion ($70.7 billion) and growth of 6 per cent.While this maintains its position as the world's largest professional services firm by income, it continues to lag PwC in revenue in Australia.The revision reflects the ongoing deterioration in the US public finances, and the absence of a credible fiscal consolidation plan, Fitch said.James Murdoch has resigned from News Corp's board, citing "disagreements" over editorial coverage by the company's news outlets.Anthony Fauci said some 250,000 people have volunteered to take part in the clinical trials of Moderna's vaccine candidate.Bolstered by Apple, Facebook and Amazon, the Nasdaq surged 1.5 per cent. Deloitte News - Find Deloitte latest News and Headlines today along with Deloitte Photos and Videos at HindustanTimes.com. The S&P 500 notched its fourth weekly gain in the past five.Juan Martinez says a pun in this column racially vilified him based on his Spanish heritage.Herbert Smith Freehills has cut partner pay by almost 10 per cent, but says it is 'incredibly optimistic' about 2020-21.Hearsay: The litigation funding inquiry hasn't been the Parliament's finest hour.Employers and clients are losing out from plummeting levels of wellbeing among lawyers, prompting warnings from Victoria's legal services watchdog that firms that are pushing staff too hard will face increased scrutiny from regulators.The lockdown has seen Jia Du's clients ask if they have data in their system that can help them better track rapidly changing consumer behaviour as well as better manage staff working remotely. Watch videos, top stories and articles on Deloitte at moneycontrol.com. So the run of bad news for Deloitte Consulting continues. Deloitte is said to have agreed to pay the ICAEW's costs of nearly £1m in addition to the fine. or medium without express writtern permission of moneycontrol.com is prohibited. Deloitte will cut 7 per cent of its workforce, or at least 700 professionals, despite the firm growing annual revenue by 10 per cent to $2.5 billion amid the COVID-19 downturn.Partners were told on Monday that the firm was on track to deliver revenue growth of about 14 per cent over the first three quarters of the firm's financial year but that growth had collapsed in the final quarter due to the pandemic.Revenue in May, the firm's year-end month, was down 19 per cent compared with May 2019.Deloitte has cut 7 per cent of its 10,000-strong workforce because of the COVID-19 downturn.The firm's 10,000-strong staff were told about the cuts at a 2pm firm-wide meeting, after an earlier briefing held for Deloitte's 900-odd partners.The redundancies follow the firm cutting all discretionary expenditure earlier in the year, including asking staff to take A number of Deloitte partners are also leaving, or have left, the firm early, but no details were provided.
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