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You must ask the magic conch
Magic conch does squidward like me?
Dear god. One thing that was much better during 2008-2009 - there was not this incessant need to ask random people online, if they are going to get laid off soon.
'Back in my day we used to worry about this in the corridors, not on the interweb' - Person on the interweb
Banks have already gone through a round of layoffs to adjust for the drop in loan originations
Maybe ACN. The rest of us don’t have shareholders to appease every quarter
This is one of the reasons to stay away from a publicly traded. They have shareholders to answer to!
Rising Star
Yeah i honestly don’t expect layoffs here. We’ve been hiring so first step would be to slow that down and let attrition do the rebalance. Honestly happy to be where I’m at, feels like a safe zone amidst all the market turmoil
Chief
Haven't heard a squeak about any layoff
Rising Star
Hypothetical question: if a consulting firm needs to layoff some of its staff, would it bring in a firm from the outside - likely handing over all sorts of sensitive internal data, or does it use internal restructuring teams? I'd imagine it's the latter, but doesn't that lead to all sorts of ethics/HR landmines, or is there a process for doing so?
They do it via stricter up/out or performance evaluation cycles. The consultants are relatively interchangeable compared to people in industry, so there's less need to be very specific and careful.
Rising Star
I have not heard of any bank having mass across the board layoffs.
F500 banks are blowing away their earnings predictions which has caused the bank sector stock market rally over the past month
Consulting is the second largest driver of job growth in last month’s jobs report. We are no where close to layoffs
Which bank?
CS, MS, Barclays, and some boutiques
Tbh not seeing any signals that consulting is going to do layoffs especially in life sciences. Pharma companies have staggered development of new drugs and subsequently will have to launch. That money has already been allocated so I’m not worried. My team just hired 3 new people, as well. If you consult to industries that are affected then, maybe, but that is determined on a case by case basis.
No layoffs at Bain, at least. That’s not our business model
big banks gnerally layoff back and middle office people first. If you see mass layoffs to front office folk, then you should be worried
No layoffs at McKinsey, but some regions are definitely seeing less business coming our way