Too many trolls around, but this one I can help you out a bit.

Below information is not specific to any one particular firm.

Because of the global pandemic, many countries implemented lockdowns and restrictions - it has one cumulative impact - a reduction in business activity. Number of IPOs, M&As, business expansions and new ventures would have plunged in 2020.

Professional services firm naturally forecasted lower volume of business, and undertook cost cutting measures, including adjustments to employee compensation. Now I won’t share what each firm did - that’s P&C but you can just ask around.

The bottom line is total employee compensation was adjusted in a manner that wasn’t acceptable or satisfactorily to some people, so they resigned. And it’s a slippery slope here, when you see your friends leave, you might consider throwing in the towel too.

This is against the backdrop of there actually being, in my opinion, even more procedures to do. Impairment testing, going concern evaluation, accounting for government grants, breach of debt covenants etc just meant we had even more to work with due to the economic uncertainty.