{ "media_type": "text", "post_content": "Question for the more seasoned consultants, these layoffs and overall downturn in our industry, is it an annual cycle? Or is this abnormally bad", "post_id": "57407014cb703c0e00a76171", "reply_count": 11, "vote_count": 5, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Question for the more seasoned consultants, these layoffs and overall downturn in our industry, is it an annual cycle? Or is this abnormally bad

like
Posting as :
works at
You are currently posting as works at

So 10% of workforce is counseled out each year. Purely based on performance. Then another 5-10% leave because of better opportunities, industry move, blah blah. Last few years have been pretty good for consulting firm. But this year is not expected to be one of them. Election uncertainty has led to a lot of projects being stalled. Companies are not making the investments. If trump wins I expect consulting to definitely take a major hit in the short run.

like

M&A is slowing way down now that the mega deals are over.

like

I started in 2008. This is nothing compared to that time period. And Ive seen a small "correction" like this one once before already since then. This is totally normal. Just culling the herd a bit.

like

Sweet. And D1, what about trump would slow us? Wouldn't it really just affect federal consulting?

like

We've been on a roll in FS like never before. The cycle is reverting to normal

If trump does become the president, most major corps would wait to see if he does any of the idiotic things he's claiming. If he doesn't everything goes back to normal, otherwise companies pause their investments. Either case we'll see our pipeline softening

Are you guys seeing any higher level folks getting the ax? Manager or above

Normal in any business. Just another cost cutting measure

14-18% annual turnover (both layoffs and voluntary leaving) is standard

Been at this 15 years

EY3 you are a warrior

Related Posts

like

Are Deals groups going to see layoffs given this crisis? Seems like all active deals are dying and companies are just looking to conserve cash

like

How do I have the conversation with a Partner about writing a letter of rec for a PhD program? Will I put myself a risk of being laid off if I express interest in continuing my education?

like

PwC folks who got laid off, what reason were you offered for that?

like

Just received a COBRA insurance letter from current employer - recently got hired by this employer. I’m confused, I thought COBRA was offered after you resigned or are laid off?

like

Why did Deloitte’s federal practice have layoffs? Given that the clients are large government entities. I can understand it happening in commercial but federal makes no sense

like

For those in senior positions- how are you not constantly worried about the success of your work? There’s so many things that can affect P&L that are out of your control, how do you stay calm and not feel like you’re going to get fired as soon as growth slows?

like

What’s it currently like at W+K Portland? Post massive layoffs.

like

Me as a new hire : *panicked I was going to be fired at any moment.* Me 4 years into this : Maybe if they fired me, it wouldn’t be that bad of a thing for my life 🤣😂.

likefunny

How do you know if you’re in the hot seat/might get fired or if it’s just paranoia? I feel constantly on edge...

like

For a Company the size of 500 employees, what are your recommended corporate communication policies for announcing furloughs or layoffs?

helpful

Have you ever been fired from a client? What are the signs?

like

PwC folks, in which verticals are the layoffs happening? Apart from FS

like

Launching a management consulting firm in two weeks, very optimistic iA. If you have been recently laid off or not working and would like to connect, let me know. Also looking for help, few hours a week before the go live.

likeupliftinghelpful

Heard BBH NY laid off 1/3 of the agency today. Mostly women and/or POC. 😬

likehelpfulfunny

Is Anomaly doing ok post-Converse or will there be layoffs?

like

If you were laid off from your last job do you think it will affected your negotiation in your next job?

like

I have experience in Java Support for 5 YOE. I am not having expertise in Java development but understand the language. Recently i was able to clear an interview at CGI for the role of Java Developer. I am feeling less confidence if I will be able to survive. Should i take this chance or will I get fired if am not so expert? Please advise.

like

There is truly nothing like going through the shock of layoffs and then seeing your closest coworkers still here at the end of the day. Hold you peeps close today folks ❤️ 😔

like

Would you get fired if you edit your department partners’ picture and send it to your colleague?

funnysmart

Additional Posts

Hey San Francisco Fish, I just got an offer that's based in SF (and I'm currently in the South). So I guess my question is, how do you live? Where do you live? Are there any tips you all have around the different neighborhoods or...how much money I should expect to spend on living? 😬

like

I've not done my masters (engineer from a tier 1 college). Will that be a problem with my kid's school admission?

funnylike

Anyone work/know someone at Ginger (mental health company) and willing to connect?

like

I recently lost a parent. It seems so unfair that if this happened during the summer I would only have to pretend to be ok for 40 hours a week, as opposed to now where 60 hours is the expectation.

like

What is your avg screen time? I’m using at 7-8 hours each day which seems insane but maybe it’s because I use my phone for all the zoom calls?

likeuplifting

Chase UR is migrating systems, so they might not be able to find recent rewards bookings. Ask for a specialist if you have that issue - saved me a lot of time!

likehelpful

Salary for senior business analyst at McKinsey in the US? Curious since you guys don’t go from BA to Associate

likefunny

Hi Fishies, I have 4.7 YOE as a Desktop Support Engineer L2 with Wipro Technologies payroll, it was contract which is ended up in February 2021 since then I'm looking for a Job but didn't get any offer, Till now attended 12 interviews but there is no job offer, Is there anyone who can help me or refer me?

like

Was so excited about fly day that I walked all the way to the bus for that terminals with the rental car keys 🙈

like

So, anybody up for some Zoom drinks for happy hour?

like

Looking for a freelance copywriter to help out on launch campaign for a tech startup brand. Ideally DC-based, but open to remote. DM me!

like

Did any one was interviewed with Google for salesforce application engineer, if you could share you experience?

like

Based in DC, United or American? DCA seems to lean American which is nice for proximity, but it’s smaller. Sub question: which lounge memberships is better? I have the option to expense one of them.

like

SO has been an art teacher for 5 yrs, looking to get out of the classroom. Just completed a Masters in Org Leadership with specialty in Proj Mgmt. What’s a good role for that Exp and Edu combo?

like

Got an email says "We are offering a highly competitive compensation and benefits package:Netflix/Amazon Prime subscriptions..."

like

Is Qatar airways a good option for parents coming from India in June? Are there any covid restrictions other than presenting a negative report? Their trip would be from New Delhi to Seattle if it matters

like

Agile program managers, I am looking to dedicate a few hours per day to growth. Would appreciate any great book, podcast, skill building recommendations on managing agile software dev programs, specifically working automotive user interface and design.

What are my in-house options in NYC? I have 3 years of substantive labor & employment litigation experience, including trial experience. Looking for better hours & a pay raise.

like

Hey, I have applied to a job at EY for Risk assurance. My academics are pretty good and I'm pursuing ACCA with BCom, with a year of internship experience as well. I have tried to apply but I think a referral would really help. Please dm me for referrals. Would be happy to speak on linkedin as well and send my job ID as well.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal