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Guys, I work in products. Can someone ELI5 what's going on with all these FS layoffs?

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At PwC, the layoffs are the result of current projects drying up (like mortgage lookbacks) and the loss of key accounts to competitors. Our leadership had ridiculously aggressive growth goals and now that they can't meet them, people across the board are getting let go

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Holy shit at Accenture too???

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Haven't heard about any layoffs in Accenture, but an MD for security consulting in the financial aervices sector did just leave, don't think he was laid off

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Apparently Accenture has a hiring freeze though. Heard it through another consulting grapevine forum

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Yeah the hiring freeze is accurate. Heard it from an internal capacity lead.

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Thanks P1.

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