Top 10 Firm RSM US today laid off 5% of its consulting workforce, as well as an unspecified number of employees in assurance.
Employees in the consulting practice were notified in a virtual meeting with the practice leader and a human resources representative on Sept. 20, a source inside the firm who was impacted by the layoffs told Accounting Today.
Approximately 240 employees across the consulting practice were affected, and those employees will finish their projects by early next week, according to an email sent after the meeting. The firm said that it planned no further reductions.
"The need for these reductions stemmed from a challenging six-month period, where we saw our numbers fall significantly short of forecast," the email to the consulting team read. "In response, we've adjusted to ensure we're right-sizing our business to better meet client needs. While some service lines were more affected than others due to varying client demand and pipeline projections, these actions were taken to set us up for long-term success."
"RSM has made some workforce reductions to align our staffing with current and anticipated demand for our services," a spokesperson for RSM confirmed in an email to Accounting Today. "We are supporting individuals who will be transitioning out of the firm with severance and outplacement benefits. We took a reduction of less than 3% of our total U.S. workforce."
The reductions also affected some positions across RSM's sales team, the spokesperson added.
The layoffs at RSM come a week after PricewaterhouseCoopers
