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No.
Chief
100% gonna happen. Calibrating consulting demand is tough and oversupply of consultants is expensive. At some point the axe is going to drop.
So to circle back, the answer of there “soon” being layoffs is a no, right?
Chief
A lot of these folks exits to industry. They can exits because the market expand to remote work where a lot can live their desire city while working for the companies they couldn’t in the past. That type of market disruption will adjust for a while before it slows down.
I wouldn’t say it’s mass hiring, but it’s more of a mass shift of workforce between companies.
This.
Rising Star
That would imply the attrition will slow down.
We’re losing folks faster than we can hire.
Aware, not afraid. Also, prepared.
Remember last year when the firms were letting folks go left and right bc of the panny? … it will probably be awhile before they need to reduce headcount because of the overfiring. Although there’s a lot of hiring happening, I’d say a good number of people who may have even been potential hires are no longer interested in consulting.
Yes. Will happen. Always does. All the people who jumped around for these ridiculous raises with 2-3 YOE will be the first ones cut. Happens every cycle.
Lol love seeing doom and gloom / perma bears creep out in the most lucrative job environment post 2008 recession… what does it take to make you sit back and say “damn, great market we’ve got here”. Same peeps that sat out of equities for the last year
Chief
I like P1. Bringing common sense not common in any consulting firm!
I’ve been thinking about that as well and thinking how I can best position myself. My guess is only those who went through the last couple of downturns have thought about it. It’s not keeping me up at night but everyone needs to be prepared for it. Hearing about evergreen got me thinking about 2007 recently, first a couple of snippets of news then a bit more and more. Hopefully no one company/bank is over exposed
Rising Star
There are always layoffs, typically twice a year, averaging 5% of the workforce.