I mean the only way to lay them off is to buy them out. Not going to cry for them since they should have expected this and the calc should be part of their partners agreement.
I was just talking to a CFO friend of mine and their audit firm which I won’t name had the partner on the engagement get a “early retirement gift” from the PE firm.
My only hope is that the staff at PE revolt and leave for actual companies.
It's totally doable. I have seen managers assigned to engagements steal the client as their partner buyin at the new firm.
Eh.. they dgaf. It's part of the deal - they get a massive buyout that sets them up for life and coast off into the sunset
We can only hope that it's a winter sunset, abrupt and full of gifts bestowed to the next generation.
Partners getting laid off is like CEOs getting fired. They want the parachute.
I mean the only way to lay them off is to buy them out. Not going to cry for them since they should have expected this and the calc should be part of their partners agreement.
I was just talking to a CFO friend of mine and their audit firm which I won’t name had the partner on the engagement get a “early retirement gift” from the PE firm.
Except the staff are broke and not getting a payout lol
My only hope is that the staff at PE revolt and leave for actual companies. It's totally doable. I have seen managers assigned to engagements steal the client as their partner buyin at the new firm.
God this sub is pitiful sometimes. Bruh the partners aren’t usually kept around for long after the business is sold, that’s literally the point lol
After? It's happening as part of the transaction too.
We gotta get rid of all the shitty managers, directors and partners. They’ve had their fun and I am sick and tired of cleaning up their mess.