I heard there were quite a few layoffs in Audit Services today. Is this true? I’m hearing several directors, the Lead (Senior Audit Manager) position is effectively gone and those in the position were either demoted or laid off.
I’m also hearing PNC NMC next?!
Seems the new model...
@OP how many people
@cz no - it’s the lack of oversight. We had less ppl than in 2022 and everyone was busy. But no oversight, so they take on more risk. Simple.. then they cut and reduce cost. Not like anyone will come asking questions.
Can also confirm - 10% laid off.
Poor decisions made solely on reducing expense with zero thought put towards the exponential increase in risk. Go figure the chief audit king and his directs have zero audit experience.
Revenge for the arrogance and entitlement people had 2020-2022
But according to public news sources PNC is very profitable this year
Can confirm - every single Sam on my audit team is gone