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Bain & Company Bain & Company did meta hire you to work on layoffs?

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Powell keeps saying “we need to increase rates to not let inflation become entrenched” but salaries in the labor market have been on a massive increase since the pandemic. It’s not like EY will reduce my salary next year. Incomes are high and won’t come down, sure layoffs can happen but the salary ranges for each level have never decreased. Am i wrong for thinking that inflation will become entrenched no matter what?

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Just read the article on WSJ about thousands getting laid off at Meta this week. Prayers for all you out there. Do you all think we will see other FAANGs do the same ?

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Why do you think the tech layoffs are happening now and all at the same time?

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Can Big Tech layoffs be viewed as a positive development because the other industries will get a greater supply of better trained tech talent with lesser leverage in terms of compensation expectations? I would love some of my clients to have access to better IT / digitally savvy employees.

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On one side, we are noticing mass layoffs, hiring freeze and cash flow retention to account for upcoming recession.
And on the contrary, in Big4, we are heavily short staffed, people refusing offers and difficult to hire Senior Cons, Manager and Senior Managers. What is this stark difference for? Any thoughts!

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This would be a dumb question as nobody knows the future so asking for a perspective rather than an answer.
Considering to join AWS on the security side and wonder if there will be layoffs considering the economic downturn. I understand that my current job maynot be safe as well if things are worse but logically thinking that AWS’s cloud business will always be around and it has been growing well compared to other business so AWS would be a lil safer than other Amazon sides.

Thoughts?

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Which firms worked on the Twitter layoffs? I’ve read KPMG, but surely they must’ve had a more high level partner as well? Doing it in-house at this speed is impossible.

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Rumours about potential layoffs: There's no recession yet - governments are trying to return growth to normal levels, and if they end up over-correcting there might be a downturn. Clients are cautious about initating large projects until they have a better understanding of what will happen. Consultancies invest in producing smart people (why they have massive graduate schemes++), and I don't see them taking a loss on these investments (and sacrificing their employer brand value) "just in case"

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At what level do you typically get to have contracts at hire with firing/exit stipulations like golden parachutes/severance pay? Is this really just at the F500 c-level or is it more common at lower levels in specific industries or in startups?

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Do you think Elon Musk is enjoying this massive layoffs at Twitter? I mean he seems to be ok with it and then he forgets that he is not supposed to show his pleasure so he will act to be sad about this decision. What do you think?

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Are other consultancies doing layoffs? Things seem to be business as usual at McK.

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Recent layoff news and information about a Federal warn law that applies to large employers has me questioning how Deloitte handled Covid related layoffs in the summer of 2020.

Deloitte certainly laid off more than 500 employees, yet many responses as we saw on Reddit and fishbowl indicated 4-6 weeks of severance. Is the Federal warn with a minimum notice of 60 days or equivalent severance something that recently became law? I’m curious, and wondering how Deloitte dodged it.

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Deloitte Hi all, joining Deloitte by end of this month, I have already put down my notice, as there is layoff going on all over will my joining will get impacted.

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Read in Bain bowl that there are layoffs at BCG London. Can anyone confirm / deny this?

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In case anyone’s wondering what the layoff email reads like

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Do MBB firms hire laid off employees? Part of the recent tech layoffs, keen to explore a move to MBB

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Our service line partner used the Twitter layoffs to remind us not to complain if our bonuses aren't as big as we wanted this year during our service line call today. Talk about cringe and lacking emotional intelligence.

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So uhh, how much of these layoffs do you think is from companies adjusting for the inflation reduction act’s minimum 15% corporate tax for balance sheets over $1B? Any savvy corporate finance peeps that have insight? I’m but a mere strategy person and don’t understand how decisions actually turn out during implementation.

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I haven’t done any FI’s this year. whoops guess i’ll be working long days until end of PY so I don’t get fired

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What are some of the best and worst practices you’ve seen with layoffs? Historical or recent.

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Any layoffs happening at Meta in US?

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Rumor says Meta hired Bain to handle layoff. True?

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Any B4 firms talking about layoffs or “forced improve performance” ranking yet?

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“You shouldn’t tax us, because we create the jobs” - Billionaires.

“If you receive an email today, you will be without a job.” - Also Billionaires.

I hope everyone laid off from Twitter today creates a new media platform. Quite frankly, Musk and Zuck are both deplorable in their own ways, but there’s not enough viable options. Hell, reinvent Myspace.

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I am about to start maternity leave. Rumor says my company might start layoff. Will I be laid off in the middle of maternity leave? Thanks.

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Got let go last month, no clarity as to why but with all the layoffs going on it's a little scary... 6 YoE CPA and PM with big 4 and lots of diverse experience looking for work. Referrals really appreciated.

Thanks for your help 🙏

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McKinsey & Company Anyone else get laid off from Accenture - curious what you’re up to next?! Accenture Deloitte EY PwC McKinsey & Company

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Twitter layoffs confirmed. Those who stay get a work email. Those who go get a personal email with next steps by noon Friday. Savage.

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Companies that have laid off so far just this month!!!...

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Bain & Company 18% of opendoor, 50% of Twitter, 14% of stripe and 13% of Lyft all in 24 hours. In addition, Apple & Amazon have announced hiring freezes. Wondering what the sentiment is in consulting now. Anyone seeing potential layoffs or hiring freezes at their firms? EY Deloitte Accenture PwC McKinsey & Company Boston Consulting Group Bain & Company ZS Associates Oliver Wyman KPMG

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I am a recent graduate who joined a big 4 six months ago. I enjoy what I am doing and how much I am learning. I recently received offers from two other companies with better compensation packages. I am currently earning $85K at my current firm and live in a Tier 2 city. The two other companies are offering around $130K and are located in CA. They are both FAANG companies. I have heard of number of layoffs happening in big tech. Should I consider making the jump?

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Is Deloitte doing any layoffs right now?

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One of my senior managers is a boomerang and told me she was laid off when she was 7 months pregnant about 10 years ago. I think she was a senior or manager. She was in a specific group and everybody was laid off. It wasn’t performance based.

Would you work at your company again if you were laid off?

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Hi, received an offer from another Big4 in Amsterdam (currently working in Eastern Europe), but relocating, I’m concerned about potential layoffs in the coming period being the last to join the team.

If you still believe the election was stolen, you should be fired from your job because no client deserves a consultant with such poor critical thinking skills.

likeupliftingfunny

Laid off, 10 years exp, tired of acct management. Feel so lost. Don't want to go back to agency side. What should I do? I feel like 💩

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Anyone hear talks of layoffs in Advisory? I know my office is laying off Assurance and BTS (Tax) staff but haven't heard much of Advisory yet.

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Laid off after Thanksgiving. 54. Not done yet. Plenty to offer. In Detroit but ready and able to move anywhere. AD/CD. Hangin in there. How bout you?

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Kinda sorta trying to predict if I’m losing my job tomorrow.

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I think I’m potentially about to be fired this week in retaliation from my boss...what should I do?

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Hey everybody. Got laid off at D. BTA within strategy and analytics. Mostly LS/HC experience. Anybody can help out with a referral anywhere? Thank you!

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After you are stealth laid off, other than job search, what do you do? I assume they won’t give you work and even if they do, you can politely decline? How do you feel about you are not progressing anymore and seeing other people progressing in their career? I have no intention to make partner, but still feel a bit stuck not doing that much.

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We have a big project going on and I am the only point person(initiate it, did lot of work, and knows the deets well), seems like my mgr wants to get a headcount. But I want to use this opportunity to get promoted, how can I get this across? Mgr is new(they fired my old mgr), mgr’s mgr is new too(re-org). So not sure if I should/can make a case, or how.

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Salary range, business outlook of this group amid layoffs and green card initiation timeline?

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Has anyone been able to negotiate anything extra or terms when being laid off?

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How do you talk to your boss when your job has evolved to something very different from what you were hired to do and you’re not happy without getting fired or phased out?

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Have an offer to start at Deloitte in July in Org Transformation consulting. If it doesn’t get pushed out because of the virus, is it a good time to switch firms in July? Concerned that layoffs may be imminent if I am so new to the firm. I will be coming in at the Consultant level if that matters.

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