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No promotion for me...time to quit!
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People use the term layoffs too loosely. Letting some low performers go isn't a layoff rather business as usual. Our companies are huge, constantly hiring and firing on a daily basis. Useless it's 20+ people from a specific group in a weeks time I wouldn't consider it a layoff.
Good.
It's interesting we hear PwC layoff rumors every other week here.
@Pwc 6, not sure if you are in advisory, but everyone man and his dog knows Pwc US is downsizing its business and trying to create and maintain a separate small legal entity. Layoffs have been happening in the hundreds since Nov 2015. And there has been minimal to no hiring at mid management and senior levels. The business has been losing one proposal after the other, mainly to EY. I hope you are not a partner or one of their boot-lickers trying to justify the layoffs in this forum!
M2 - that explains why my practice has doubled in size in that timeframe... 🙄
Wonder what practice you are talking about! FS Advisory and specifically Risk, Reg Consulting was hit hardest!
Agree it is practice specific- I wouldn't expect cyber crime and digital to have layoffs, but having over 30 pc of certain teams laid off clearly has something to do with the business suffering, rather than just performance. Also newly promoted people laid off?! How do you explain that? There were also a few people at high salaries and they rehired for those roles at lower salaries. Everyone I know knows a few people laid off- that's clearly a sign of the practice suffering! They've now started laying off people with a 3 month notice period, so that people have an opportunity to look elsewhere while employed!
Where did you find out?
Yesterday
Softness at senior levels - wouldn't surprise me
Great, one more reason to wring my hands while awaiting an ax that may or may not fall. FML
I want my bonus.
Not to mention it would be making a whole lot more noise if it was near any significant numbers of people being let go
Oh well. Just ax me already
😱
Should only be worried if you got a 4 at this point or on bench for months.
in NY
Agree with p7. Find a different group M2. Not my experience at all. We hire too many Ms. group is growing fast.
My understanding is that it's practice-specific and will focus on those who aren't utilized or aren't selling, with an initial review of PY 4-rated performers
M2 which group are you ?