Deloitte has announced some good news for once. They announced that they are going to be repay the entire pay cut in Australia.
This is because they had such good results. As you might remember, all the big 4 accounting firms had pretty amazing results in Australia even though they tried to paint a grim picture for staff there.
Deloitte also laid 7% of its workforce off in Australia due to gloomy forecasts. They previously had 9,000 staff. This means they cut about 600 to 700 jobs in Australia.
Deloitte cut pay for their employees in Australia by 25% in April. They were also told to take mandatory unpaid time off to save the firm money.
Deloitte is going to now repay two and half months of missed pay along with 10 days of paid sick leave.
Deloitte earned 2.5 billion in Australia for their 2020 fiscal year. This represents growth of about 14% year over year.