{ "media_type": "text", "post_content": "Why is pwc firing people? Will the other big 4 firms follow suit?", "post_id": "56bed58be8ea450a003a4e1a", "reply_count": 30, "vote_count": 10, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Why is pwc firing people? Will the other big 4 firms follow suit?

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Given the economy FS clients aren't as prime to bringing in consultants right now. And certain markets, such as west coast, just don't have the client base there to staff people adequately. Just trimming some fat of people who aren't performing well, people could move into different parts to avoid it happening

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Yeah I think they've opened them up to a lot of risk because they're trying to blame performance (and hence pay out lower severances) but no one I know who got let go had any documented performance issues, low utilization, or PIPs

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😳on behalf of the firm- sorry. You will land on your feet. I would tell people in interviews straight up that the firm overhired and then quote your utilization figures and reviews...

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I think it's just their FS practice, not a firm wide trend.

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Yeah, FS is being shredded

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What happened? Did they just over-hire for banking work or something?

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BofA?^

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It's just ridiculous because neither of us were at the firm a year so finding a new job is going to be an uphill battle. The way they handled everything too (absolutely no notice, no warning signs, and bullshit excuses like "you don't seem happy here") was extremely unprofessional. Crazy to me that they would let us go when we were billable and half our peers in other markets had never been staffed. Would never go back or recommend PwC to anyone

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When will this laying off period end? Seems to be stressful

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@PwC4 - also a new associate here, sorry to hear that man. It has been my experience also, that the HR at the firm sucks and largely focused on the interests of the the partnership

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Yeah, know of three myself that got let go. Neither made manager but had been seniors for 4years. Think they tried to make it a performance thing, but we all know it's Vertical wide.... I'm not in FS

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Heard they pay two weeks severance lol

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Thank you NYC 2 for letting me know I'm not the only one

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You all could just get jobs in your fed practices if you're that scared.

There was a huge FS project I know of that many of the firms were vying for. They all hired heavily for and only one of them won it. Could be the case

Is pwc still firing or it already happened?

It's all that IFS mortgage shit coming back to hunt

Pwc 4- I'm sorry. Fat trimming can just mean market demand- which is not your fault. If the west coast isn't selling in FS, you may have just been in the wrong place at the wrong time.

PwC4, they did give you any notice?

He said no @pwc5

Correct... I guess the only thing that makes me feel better is that I'm not alone per the million goodbye emails that were apparently sent out

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