CPA Canada layoffs Staff to Save Money Amidst Profession Dispute

CPA Canada layoffs Staff to Save Money

Why Did CPA Canada Layoffs Staff?

In a significant move aimed at trimming expenses, the Chartered Professional Accountants of Canada (CPA Canada) recently laid off 20% of its workforce. This decision comes in response to the organization’s ongoing struggle with budget deficits, having faced two in the last five years. With approximately 400 employees prior to the cuts, this reduction aims to alleviate the strain on CPA Canada’s multi-million dollar operating budget.

Pamela Steer, CEO of CPA Canada, addressed employees, highlighting the challenging operational environment exacerbated by the impending withdrawals of CPA Ontario and CPA Quebec.

These layoffs signify the first major adjustments resulting from a standoff with the two largest provincial associations regarding a new Collaboration Accord. In June 2023, the provincial accounting bodies overseeing chartered professional accountants in Ontario and Quebec announced their intention to split from CPA Canada over the future governance of the Canadian accounting profession.

However, in a separate development in September 2023, CPA Ontario announced an agreement reached among the three accounting bodies. This agreement, distinct from the Collaboration Accord, ensures that students’ educational journeys remain unaffected. Under the terms, CPA Canada will retain responsibility for developing the curriculum and examinations for the CPA program, while the provinces will oversee the delivery of the CPA professional education program.

How can Whitten & Lublin help?

At Whitten & Lublin, we understand the stress and uncertainty that come with job loss or termination. That’s why our team of seasoned employment lawyers is here to support you through this challenging time. We’ll walk you through all the available legal options to ensure you receive the rightful compensation owed to you.

If you’ve been affected by recent layoffs at CPA Canada, don’t hesitate to reach out to us for a consultation. You can easily book a session through our online portal or by giving us a call at (416) 640-2667 today.