Deloitte intends to lay off 900, or 2%, of its U.S. employees, according to this article by WebCPA. No official release by the firm could be found on their website, but the article cites an e-mailed statement from the firm. A clip:

"The cost-containment program is taking place across all support functions and client service units. Part of the plan is to align our headcount according to current and projected revenues."

"According to current and projected revenues?" Well, that says something about where Deloitte expects audit and consulting fees to go this year.

A little surprising, really - not so much that the firm expects pressure on its fees, but that the cuts are taking place across all client service units. You could expect that client firms might be doing more restructuring and requesting more advice in tough times.

It's not likely to last. The coming IFRS transition will provide many public accountants full employment for their lifetimes. It wouldn't be surprising to see Deloitte hire replacements for the 900 US members they're laying off - and then some - in the next couple years.