Why has this year been bad for consulting? Layoffs- lot of folks on bench-the economy hasn't really tanked compared to last few years- thoughts?

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Election year

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Over hiring based on expected growth. While some growth happened, not as much as anticipated. Therefore most firms have an oversupply of talent

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Things are bad in a lot of areas. Retail and manufacturing are struggling too.

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K is doing fine

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Post M&A hangover

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Oil and Gas is really sucking ass this year as well

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It's industry specific. Consulting, in general, has done well this year. Come the Jan 1 budgets is a diff matter as discretionary expenses (consulting money) usually lag for large companies

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We over-hired also vs aggressive revenue goals vs actuals.

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Leading indicator, recession coming

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