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Hi fishes,
Any guess how many people are laid off from Publicis sapient in past few days? Really scared for my future as I'm also under probation period and deeply regret for my choice of joining this firm...I don't understand why were they recruiting peeps when they were short of projects. Publicis Sapient
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Definitely not a stress puppy.

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Not really - corporate layoffs usually translate to good times for consulting businesses
Generally speaking, consultants do well in recessions once corporations find bearings. The grey area is where consulting struggles.
Well run consulting firms engage in continual attrition vs. lay offs. They always have the proper skill mix to address client needs. Stay relevant and you always have a job.
Rising Star
What layoffs?
Look at unemployment claims. Initial claims haven’t moved up at all. Continuing claims are near the lowest all time. So in the aggregate there is not a layoff problem. That data is a very real time indicator.
The layoffs/hiring freezes are basically largest at high flying tech companies but are still very small by historical standards. Other sectors (manufacturing, logistics, retail, healthcare) where people have fled from during the pandemic can definitely pick up slack from other industries right now.
Banks seem prepared for tighter interest rates and defaults. If financial services is fine recessions in other sectors don’t get nearly as bad. In 08 when all the banks failed that was the bad signal, most recessions are not like that.
Inflation drives wages up.
Hire someone today that makes 20% more than their coworker. Tomorrow they have lunch. Let me know how that goes for HR.
You find shelves, adjust internally, resume hiring. While waiting for revenue income to inflate accordingly. It is a zero sum game in the end. You never want to be caught with that lunch conversation being ubiquitous.
Rising Star
Nope. This isn’t a thing