Is there an emerging consensus on the impact of covid on consulting in terms of YoY revenue growth? Layoffs at consulting firms?

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At Kearney, we had a monster first quarter followed by a down Q2. Overall we are close to flat YTD. Some things we did to adjust:
1. Laid off staff in Mexico City - about a quarter of the office. They say this office was a problem pre-covid, so perhaps not directly related to the change in conditions
2. 20% pay cut in the UK - down to a 4 day work week for short period.
3. Partners globally are delaying bonuses to ensure that staff get theirs
4. Start dates are delayed globally up to 6 months including the US. PTO "suggested" in the US for 5 days.
5. We are doing very well in SEA, we should grow revenue there in 2020
6. We are hiring in MENA, so again this seems like a bright spot.

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They should offer a voluntary 80% cut and go on the beach to some, and keep the others on full pay or something... would be fairer at least. I would be very happy with an 80% cut and chilling

I read there was an expected 18% decrease in the value of the consulting industry. Unsure how that will be spread across the various firms, but it’s been my impression over the last several years that clients are less willing to pay high fees for ‘pure strategy’ engagements, and look more for partners who are able to help them develop and then implement the strategy

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Yes, it will be a shock to actually have to provide real value and with smaller teams.

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We will have greater clarity when the public firms report Q2 later this month. Accenture reported in June and was down 1% compared to the similar quarter last fiscal year

Yes I agree, when Marsh/ Oliver Wyman reports that will be the best benchmark for strategy. When FTI reports that can be used as a benchmark for best in industry due to their restructuring bent.

At BCG we are looking at flat YoY revenue in 2020. Perhaps slightly higher than 2019, however far lower than we budgeted at the beginning of the year.

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So no real layoffs?

Did Slalom ever have a covid vaccination policy in place, like a condition of employment? Thank you.

Laid off at PwC. It was more of a relief than anything. Anyone have any knowledge on openings at smaller (but not necessarily boutique) firms? Human Capital / Change Management related field.

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What is the severance pay in pwc India?
Does everyone who gets fired be eligible for it?

I might get roasted for asking such a basic question but - how much do you budget for eating out ($ amount or % of budget)?

Pre pandemic I was traveling 5 days a week and just used left over per diem on the one night I went out with friends at home. During covid I stayed home. Now that I’m fully vaccinated and are many of my friends they want to go out to eat/drink. During covid I moved from a LCOL to here so I’m experiencing delayed sticker shock at the prices. Any tips?

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Supposed to be moving to France from the US in a few weeks for a new job, it’s been six months in the works of getting the visa situation handled. With this coronavirus now, I’m afraid (cont)

Constantly worried I’m going to get fired because I don’t know where I stand at my mid sized law firm (second year associate).

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Is it just me or do 90% of the jobs being laid off by big tech sound made up? Many job descriptions with multiple bullet points that all kinda revolve around the same idea. One of my buddies works for a big IT company and literally just sits on meetings all day. No one really contributing to anything other than agreeing to whatever the speaker is saying. Are these kind of jobs finally being exposed? Six figure employees getting paid to sit and bounce ideas off each other?

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Does your firm find out why you failed a clearance ? Asking bc I got fired from my first job out of college a couple years ago and didn’t report it on it company background check. I’m afraid if I fail my public trust, my current firm will find out and fire me for not reporting it on my prior employers.

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Is anyone hearing chatter in banks/FIs about recessionary job cuts or hiring freezes yet?

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Hi Sharks,

I got an offer from FTD for permanent work from home. But i am not sure about the company.. Also the market conditions are bad too.. There are many layoffs from various companies.. Looking for suggestions..

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TLDR: Getting over your ex of 2.5 years ghosting you after they said they wanted to reconnect.

I was dating someone for about 2.5 years and then we broke up because of COVID and the long distance was making it too difficult to continue. The break up must’ve been like a 4-5 minute FaceTime because I was very distraught. After we broke up, she started seeing someone else but I was heartbroken and it’s taken me over a year to really get over everything and process those feelings. (Cont.)

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So, lay off until the pandemic blows over.

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Moving from T2 to McKinsey. How do vacation requests work? I have family and friends getting married this fall in weddings delayed because of covid, but I’ll just have started so wanted to get a sense of how realistic taking vacation this fall would be and how to approach taking it (e.g. mention to HR, staffing). TIA!

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Is anyone expecting agency layoffs at the moment?

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Any way we can support the covid 19 crisis in India? Any orgs that take foreign donations?

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Also would leaving IBM after 1 year look bad on CV?

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