I keep reading all these posts about firms laying off a ton of people. Can someone explain what happens after one gets laid off? Like do they just fire you and that's it? What happens to the pay? Etc.

Sometimes you'll get a few weeks of severance pay and if you have someone in another practice who can sponsor you then you might be able to switch but besides that you are let go of the firm.

At PwC, they give severance based on your contract and it's 2-6 weeks depending on years of service. I was given the bare minimum but was able to negotiate a couple weeks more. In terms of notice, everyone I know (myself included) was notified day-of. It's really shitty.

@PwC That sounds terrible... Sorry I don't mean to pry, but how was your performance? On a scale of exceeded expectations to did not meet expectations, where would you say you were at the time that they laid you off?

Exceeded. Very high utilization rate despite being a first year. Even during my exit interview they said it had nothing to do with my quality of work. But they timed it with my roll off date and there was apparently nothing upcoming in the pipeline.

Honestly, it wasn't handled well at all. Was really sad the first couple of days but now I'm somewhere in between plotting my success-is-the-best-revenge plan and planning a vacation with my points/miles

See, that doesn't make any sense when I've seen people on my team sit on the bench for weeks and weeks with nothing in the pipeline. I'm not saying I don't believe you, just saying there's no consistency.

It really depends on the market, I know people who are still on the bench but are in a market that's expected to pick back up (northeast). Meanwhile, I was west coast and the market I was based in was never strong to begin with. They cut all the MC associates in it along with more tenured folks

But I agree, it doesn't make much sense when the nature of consulting is flying around to wherever. But partner told me when I first joined that PwC was trying to be more localized so maybe that's it? Honestly, when you figure it out, let me know

Yeah I had a few friends text me saying that Dan Ryan was really shifty the entire time and said not to worry but then named all the key accounts FS lost 👀 I wasn't given any chance to transfer to TICE, it was all so sudden. But my friend told me TICE is about to start layoffs of their own so not sure it would have been feasible