Deloitte Canada Laid Off about 200 EmployeesFinance | May 11, 2020, Monday // 20:38| views
Deloitte Canada laid off about 200 employees last week in its Toronto headquarters, as consultancies grapple with the start of an expected slowdown in client spending. The cuts affected Omnia AI – the artificial intelligence group – as well as audit and consulting, said an employee who was not authorized to speak to the media.
Omnia AI has more than 350 employees, with capabilities including machine learning, data engineering, risk and governance, and cloud infrastructure, among other areas, per its website.
A Deloitte spokeswoman confirmed the cuts, calling them "part of our normal, annual year-end process, based on business needs and forecasting for the new fiscal year." The Canadian company has about 12,000 staff domestically, per its website.
Deloitte Canada operates as a regional member firm of Deloitte Touche Tohmatsu Ltd. Professional services firms have been upended by the coronavirus and social-distancing measures, which has limited their ability to perform on-site work for clients.
And many companies are putting major deals and other transformational projects on hold. Some of the industries hit hardest by the pandemic are starting to restructure debts or filing for Chapter 11. In the recent Chapter 11 bankruptcy filing for J. Crew, for instance, Deloitte was listed as having run up million in bills for the ailing retailer.
Deloitte's US firm is delaying many of its full-time hires until the end of January and changing its summer internship program, Business Insider reported earlier this month. Like Deloitte, other consultancies are moving internships online and shifting the ways they're approaching summer programs and new hires.
Those changes underscore how the coronavirus pandemic has complicated the timelines for undergraduate and graduate students in terms of prestigious internships and lucrative full-time gigs./BusinessInsider
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