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Walmart labs chennai or Deloitte bangalore?
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We were hiring like crazy and people aren’t leaving the firm in numbers like they were previously.
Combine that with some skills aren’t really needed anymore, evidenced by the random layoffs last year and some internal transfers, and you have a major layoff.
I will say the % is still only 10% and that’s not that high imo.
I dont think we were out of line with other firms, where we have an issue is we had not been as aggressive w layoffs and focusing on pipeline and delivery the last 5 yrs or so. So felt harder but we came off the larger projections and was closer to 7 to 8%. We have historically been at 4 to 5%.
General lack of commitment towards employee welfare when compared amongst other big4 ?
1. Not true, most other firms have a similar mix, if anything we are a bit better off due to our strong GPS practice.
2. Maybe, have heard we had too many SC/Ms which reduces profitability.
3. We definitely did. Worked out well for us in non-Covid years though.
4. No, looks like they took a pretty steep one.
I will also say that our layoffs are just publicized more. They aren’t necessarily better or worse than other firms (some are far worse) but they get more attention since we are a very large and prominent firm.
Rising Star
☝️this
The crazy part is the up or out firms let more people go every year than Deloitte did in this lay-off yet they get all the publicity.
When I was at Kearney, there was a year we literally let go of 10% of staff in a very large region and called it performance related. It seems they are being punished for being transparent about laying off folks.
It’s bc they laid off more people than usual last year for “performance” and the messaging was awful / non-existent and caused a stir, so they learned their lesson.
I think 3. (just my own opinion, not at D though)
4. And 3.
Booz isn’t laying off anyone and is growing 5% this year. Message me if you want to come over. We’ll get you in.
Been there, done that, pass
Following! I don’t think 1 explains it, can’t speak to 2-4 because I’m external as well, but my firm is suffering from #3
We also had lower levels of attrition over the past 1-2 years
A1 not sure about last years lay-off % but I wouldn’t be shocked; voluntary attrition was way down so the bench was thickening pre-COVID so we’d need to make space for new hires somehow
Rising Star
3 4
3-4
Timing with year end also probably magnified and conflated normal performance based with market driven — less obvious or hasn’t happened yet with firms with different FYs