{ "media_type": "text", "post_content": "PwC FS - do you guys know how they're determining layoffs? People who are in projects are getting the boot which is scary. Apparently there will be more rounds and this week was just the beginning.", "post_id": "56b5362c74ab480f00fe0dfa", "reply_count": 79, "vote_count": 17, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }
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PwC FS - do you guys know how they're determining layoffs? People who are in projects are getting the boot which is scary. Apparently there will be more rounds and this week was just the beginning.

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If you know of a just a couple of examples, then it is likely those are the only examples that exist. These people likely had a long record of not getting staffed or meeting sales targets and previous warnings from management. Nobody gets let go from PwC without warnings and time to improve.

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People on my team were let go yesterday and today, it's happening in other offices too. Reasons were performance history and low utilization. Those with decent utilization were let go because of performance reasons. Experienced staff and senior levels. Has happened at other offices in region too. This is really happening at EY. PwC, I didn't know until I saw this post.

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I believe this is all fictitious. I am in FS and have no idea what you are talking about... Anybody have just ONE concrete example of someone who got laid off for a reason that wouldn't typically have gotten them fired?

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Yes. It's real

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Yes. Concrete reason: they were let go. Not high enough utilization. Not enough sales participation. Know of both associate and director examples.

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Wrong bud. There's a round of layoffs going on now. I'm sure the three people I am aware of in my small network are not the sum total of the cuts, and the fact that others (like the OP for example) are aware of this is pretty strong evidence that your skepticism is misplaced.

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Waaaaaait what??

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Is it assurance or advisory?

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I heard it's mostly directors and exp associates with lackluster reviews.

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I saw the projected until rate for associates in April is 44%. Wtf

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That's quite far out though....

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Happening at EY too

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You must not be receiving the, "it's my last day" emails.

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You've actually heard there are legitimate rounds of layoffs? Like you've heard this from a partner?

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There are def people getting let go. They went to practices and gave them cut #s. All levels. Criteria they most likely used to cut:4s from last year, poor mid year convos,low util, poor suckers with no personal brand and advocacy in the leadership team....

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Partner told me two weeks ago this was going to happen

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EY1 of course you would expect layoffs from people with poor performance history and low utilization. That's how you keep the firm's reputation high. I would only say it's a problem when decent employees are laid off.

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They just called me in and said I'd be happier elsewhere. I didn't want to do this giant boring PMO bank project for a year but there were no other projects. I had just gotten off a 1 year PMO. So never say no to a project if you want to keep your job basically

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How did you pull off going to McK from PwC doing PMO work? Can we talk?

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Severance for 2 weeks. I did some other work, too at PwC but mostly a partner just saw something in me so it worked out. It comes down to how much they like you and see potential, I think

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PwC layoffs - overhead there will be another house clearing soon.

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Had some convos w/ frds who were laid off last week and seems like low util was the deadly sin.
Can ppl who got laid off kindly confirm the case so the rest of us know how to prep for the worst?
All my frds who were laid off had <30% util. Performance didn’t matter so much.

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Welp, just got laid off from Havas. Who is hiring?

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Layoffs still going on in Deloitte, PWC or KPMG?

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This keeps me up at night: Knowing if I were to get fired, I wouldn’t have $ to support myself. Paycheck by paycheck living is the crux of my anxiety. What do you do when you’re let go? What’s savings

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Whelp, just got back from vacation to discover my project has been Corona-cancelled. Anxious about what this means for future layoffs, but for now.... relaxation!
Edit: left a month ago, got stuck out

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