Consulting Discussions
Layoffs

Looking at joining PayPal, some BNPL firms, and digital banks like Revolut. I know this sector has been hit hard and PayPal has started minor layoffs. I’m sitting on some solid offers though - how do I make sure I minimize risk of rescinded offers like a coin are. Comp jump and new team org seems great

Should I be worried to join a new firm with all the layoffs and talks about recession happening around. This would be a consulting gig at M level.

Will people laid off or concerned about being laid off from their tech startups or whatever acronyms (I.e.: FAANG, MAMAA) be ready to join a consulting firm to leverage their skills ? or will they want to stay put and wait for their next job at a new startup or maybe join a tech company that is more insulated from the limited VC funding, as we have seeing VCs pulling back or being a bit more selective about where they put their money.

Do you foresee mass layoffs in the new near future? Everyday I am hearing about possible recession in the next 6-18 months.

How bad is accepting counter offers in consulting? Are you the first in line to get fired later ?

With inflation and recession on the horizon, what’s your perspective on the future of the consulting job market? More in demand or could we see layoffs similar to other sectors?

After crazy great resignation and crazy hiring, now is crazy layoff season. What's wrong with this world?

KPMG - are y’all still hiring/are any layoffs incoming? I’m interviewing right now and came across a post with someone saying their offer got rescinded on FB. Scared to go through the process, give my 2 weeks, and then have an offer rescinded. This is for lighthouse btw

Has anyone here been fired from (or counseled out of) a consulting role? Do you feel that it was justified? What did you do to bounce back?

Is it possible to apply and get your short term disability leave approved (stress/anxiety related) at the end of Performance improvement plan (PIP) but before getting fired? (Have 5 day window between PIP end and call with manager and 100% certain PIP didn’t go well)

Is it possible to apply and get your short term disability leave approved (stress/anxiety related) at the end of Performance improvement plan (PIP) but before getting fired? (Roughly have a 5 day window between PIP end and call with manager and 100% certain PIP didn’t go well)

Are companies starting to layoff? Hearing of folks learning of a layoff this month. Neighbor was saying their company will start layoffs next week. Don’t know where they work. Is this normal retention/contraction?

Tough time..my better-half in consulting got laid off. What are some key things to keep in mind? (Eg., should we negotiate severance etc). Background: she wasn’t given any warning / reason why they are laying her off other than ‘your services are not required’

People have been talking abt a slow down in the market with a recession imminent if we aren’t already in one and we’ve all seen all the layoffs and rescinding of offers but my inbox has been getting slammed by recruiters lately with almost 2-3 in mails from solid companies everyday. So idk what’s going on but seems like they’re still actively hiring

Is right now a bad time to look to exit to tech?

Reading news about layoffs and raising interest rates affecting the sector makes me think I should stay put until things clear up.

All these layoffs reminding me that loyalty is dead

How bad can the layoffs get? And any idea when we’ll see a shift back into hiring, 6 months a year?

Layoffs impacting pretty much everyone at this point, do you think same thing is coming to consulting companies?

How badly does an analyst have to mess up in front of a client to get fired?

Is a separation letter the same as being fired?

I find it super funny how the industry went from covid hiring freezes and layoffs -> hyper hiring during covid as companies were growing like crazy -> to now a bunch of layoffs and hiring freezes again

Are you seeing hiring freezes/layoffs at your clients and your firm? How’s it looking?

Have you ever fired anyone? If so, why did you do that? And do you regret doing so?

Considering some Indian startups laying off, do you think fintech startup will soon layoffs in India?

Should we be expecting a massive hiring freeze and layoffs in the coming months? (both in consulting and industry)

Coinbase is actually rescinding job offers? What the actual hell this company can go f themselves. You lay off already existing staff and give them severance before ever considering rescinding an offer. Imagine quitting your old job and making future plans based on your new job offer only to be screwed over.

I am seeing layoffs post and company freezing hiring across states. Is recession finally here?

Switched from T2 to MBB and starting this month (post undergrad level). Given the way the economy is trending, is this a bad time or an okay time? Are layoffs amongst the junior-most resources something to be wary about at MBB? Is MBB a safer bet generally than T2 in deep recessions?

For those who were already in consulting at the 2008 crisis - how much consulting was affected? Did layoffs happened in the top companies, or just a hiring freze? Was there a huge drop in the # of projects?

Hot take: I joked that RTO was Elon Musk’s way of getting people to quit and it might what he’s actually trying to do. There aren’t enough desks or parking at Tesla to accommodate the work force and if people resign he doesn’t have to pay severance nor spook investors

What’s going on with Vystar credit union , online banking is down for almost a month.. which third party is getting fired

How well will T2 firms do during a recession? Want to know if I should take a relatively safer job at MBB in a PM role instead. Don’t want to be fired and have nothing

I’ve posted about expectations for a downturn in employment (or end of growth - feels like that started two weeks ago) and the economy as a whole (agreeing with most that it’s started but won’t be super painful).
My son works for a smaller but well established tech company and just today announced hiring freeze and small layoff. I think it was someone working at Deloitte that said their hiring plans are still based on growth. How long do you think that will change? I bet less than 30 days.

How do you stay motivated at work when there’s hiring freezes/layoffs in your industry? Can’t get a new job as other companies aren’t hiring, but yours might get cut too

Just got let go after a horrible 2 months at a startup. They’re toxic, disorganized, there is no handoff, heard the CFO talking sh*t about me for 5 minutes in a Teams meeting she didn’t realize I joined, etc. I was still in my probationary period but they offered me a severance of 1 month pay if I sign an ‘amicable separation’ agreement. Are they just cutting losses bc they know they f’ed up or do they just feel bad? Like what’s the real story here?

With layoffs happening in tech, are we seeing/ expecting similar things in consulting?

If I am fired, can I boomerang back? Will my previous company know I was fired? Thanks