Deloitte India is undergoing a significant reorganization, with approximately 35 senior partners opting for early retirement. This move is part of a ‘golden handshake’ program, specifically targeting partners aged 55 and above across various practices such as audit, consulting, financial advisory, risk advisory, and tax.
The international firm, headquartered in the UK and among the world’s top four professional services providers by revenue, is offering a severance package equivalent to around two years’ annual compensation to those choosing early retirement.
The retirement age standard at Deloitte is 62 years, but the organization is encouraging senior leaders to step down earlier, acknowledging their contributions. The restructuring aims to introduce younger professionals into leadership roles to adapt to the rapidly evolving business landscape.
Currently, Deloitte India boasts over 450 partners, each earning a base salary ranging from Rs 3 to 10 crore per annum. In the fiscal year 2023, the combined revenues of India’s top four firms exceeded Rs 32,700 crore. Deloitte’s future plans include having 30% of its global workforce operating from India, aiming for a total employee count between 1,50,000 and 1,60,000 within the next four years.
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