An MD gave me a little more info around the layoffs. 200+ across levels (associate to partner) within FS. Mostly banking.

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There wouldn't be rumors, if they were forthcoming with a statement

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God how can they fuck up hiring and their pipeline so badly that they have to lay people off

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Nothing happens in this firm without the partners. HR is a puppet.

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How does a layoff with an equity stake work?

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Really want to roll off my current project but now I'm scared.

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Yeah, how many more to go?

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195

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I'm hearing the opposite - was told they would reevaluate people as they roll off of projects before they hit the bench

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Not sure. But I am curious on that as well.

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Do you know how many they have already dinged ?

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No clue. That's all the info he had

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I'm a troll

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Never seen a troll admit he was trolling before

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Doing it wrong troll-bro

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A director told me on Monday that they had already notified everyone getting laid off... And the PwC rumor mill keeps churning

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I definitely don't think that's true. That's a slow process and PwC is likely looking for a quick fix to over-hiring

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I think they already did the quick fix (hence the mass layoffs) but this is also a solution since the pipelines are looking bad. We've lost a lot of work and key accounts over the past few months

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Evaluating everyone individually as they roll off accounts isn't an efficient use of Partner time. But that's just my two cents.

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That said... When has any of our firms really efficiently allocated time?

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From what I hear HR is doing most of the heavy lifting with the layoffs, not partners

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