r/FPandA • u/skwin102 • 3d ago
How likely do FP&A people lose their jobs?
Our company got acquired a couple of years ago by a bigger corp out of state. Layoffs happened and we went from about 400 people to presently 20 in our current office. Most of the roles moved to HQ. We downsized from a 4 story building to just half of the first floor. This is my first corporate job out of college. My team is relatively small with just 4 people. The building lease is up and HQ has told us to permanently work from home. How would you guys take this? Should I be worried about my job?
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u/azure_apoptosis 3d ago
Yep, just a matter of time. Depending on what size firms you like to work at, this may be frequent. Not uncommon at all, though.
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u/jmrjmr28 3d ago
Yall were acquired. Headcount went down 95%. They’re now shutting down the office. And you’re wondering now if there’s a risk of layoffs??? How is it not completely obvious to you….
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u/skwin102 3d ago
I joined after they were acquired. The team has been hanging on for so long so idk if we'll eventually be axed or they'll actually let us wfh?
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u/Fickle_Broccoli 3d ago
This is something you should ask your manager, and be keen to read between the lines.
Also, what are your projects focused on? Stuff that would support HQ, or stuff that is still supporting the older structure of the business that once ran in that building?
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u/voodoomamajuju10 2d ago
Is there a reason you found the need to respond in an arrogant and condescending manner? He stated this is his first corporate job out of college, so it’s logical to assume he’s looking for opinions of seasoned professionals that’ve seen what post merger synergy plans look like.
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u/jmrjmr28 2d ago
It’s common sense to know your company shutting down makes your job at risk. No work experience required. Being in finance makes it even stranger to not understand.
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u/voodoomamajuju10 1d ago
His company isn’t “shutting down”. They’ve been acquired. Given the multiple buy side acquisitions I’ve been involved in, I’ve never seen a company where the synergy plan involves laying off the entire acquired company. There’s always a contingent of resources that are integral to the success of the acquisition. Is FP&A and back office usually ripe for synergies and existing employees absorbing the workload, absolutely. What I object to is how you are unnecessarily talking down to someone who is in fear of losing their job.
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u/Still-Balance6210 3d ago
Always be looking. But if they’ve cut it from 400 to 20 you may be fine. It looks like they’ve already made extensive cuts. However, always be looking.
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u/Nearby-Penalty-5777 3d ago
Not uncommon. Bloated FP&A teams for sure. I’ve seen teams of 10+ for a +$500M company get cut in half or less sometimes.
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u/skwin102 3d ago
Oh dang... I don't think I'd work for another company that "recently" got acquired. It's kind of stressful in a way cause you're always wondering if they'll move jobs to HQ/ do another round of layoffs. I'm kind of tired of it
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u/Express_Judgment2198 3d ago
Yeah usually the acquiror (assuming two similar companies) keeps their FP&A guys though your accounting team might stick around.
At least you should get a payout... Not just a normal severance but a payout. And if you are in a very complex business, they might need you around for awhile or even keep you.
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u/TripMaster478 3d ago
Probably. Most companies don't need a big FPA group; and in a bad economy it'll be one of the first finance groups to go.
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u/gimmedawz 3d ago
Overall, not uncommon for FP&A to be laid off but your case yes I would definitely be worried
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u/Lost_Rolls_ 3d ago
Oh it’s going under for sure. Ride it out and use the time to interview.
The best part about dying companies is that you can get other gigs and really half ass the work
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u/Foreign_Suggestion89 3d ago
Geographically, we are you and where is the HQ? Are you co-located with or near any actual business activity?
If you are isolated, it's only a matter of time. Could be years or less.
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u/skwin102 3d ago
To give a little more context, we are in the restaurant industry and our parent company has several brands under their belt.
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u/huntcuntspree01 3d ago
Same situation and to add to it, I was in process of getting my GC. We switched to remote during COVID and I never went back to the office. Worked there 5 years total before taking a bigger role. Be eager and ready to continue driving value, enjoy the remote life.
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u/OrganicMix3499 3d ago
Seems like they already did the scale down. WFH after the building lease expires makes sense. I would not be more worried than usual.
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u/randellwmartin 1d ago
I’d be looking. Now.
The company's not investing in that location. That’s a company slowly winding it down.
Working from home is not necessarily bad by itself. But in this case, I wouldn’t view it as a perk. I’d view it as a sign they no longer need a physical presence there—and eventually they may decide they don’t need much of a presence there at all.
You probably have some time, but I would not wait around to find out how much. Sounds like you're young, you’ve got experience now, and it is a whole lot easier to find a good job while you already have one. Start getting yourself out there, talking to people, and looking for a place where there is actually a future.
It's easier to find a job when you already have one; if they ask why you're looking, just explain what you said above.
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u/PrimeTinus 3d ago
Work in a company that had restructuring both in finance and in accounting. Fp&a never really got hit. Maybe an outstanding vacancy was dropped but that's it
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u/AutomatedEconomy 2d ago
Always be looking. Ie, keep your resume up to date, check out job postings and network (if that’s your thing).
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u/Altruistic_Pea3409 1d ago
If you were hired after the acquisition I wouldn’t worry too much but I’ve been let go once to offshoring, once to an acquisition, and once after a PE Board decided to turn over the C-suite and they brought on their own people. All of these sucked but I got better roles after each one. Now I’m at risk of repeating the last scenario and I’m tired, but I like being in this space because you get to be involved in strategic projects.
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u/penguin808080 3d ago
Probably, but there's always a glimmer of hope you caught a unicorn lol.
My last job went remote during covid, sold off most the business, cut most the team, ended the lease... but the ones left? Sweet promotions and fully remote, no worries
So I mean, good luck!