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Hello! I need some insight here. I was part of a massive layoff 2 months ago. I accepted an offer and have been working at my current job for a week. I forgot to withdraw for another application and I was just contacted yesterday by FIS Global with an offer. I’m not sure what to do. FIS Global has slightly better benefits but I’m scared about the job stability. It’s what worries me the most.
Has anyone heard of any layoffs across banks?
Bowl Leader
Sister and pops got laid off... 😓.
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Different firms are taking different approaches but my guess would be any large firm diversified across industries is taking a hit. Deloitte openly stated they will be laying off people while other firms are likely raising their performance bar to cut the newly defined low performers. Both situations stink and I’m sure all firms would rather be growing than shrinking, but I do feel for the people at firms “without layoffs” who are being told it’s solely their performance that is the reason they no longer have a job, which may not be completely accurate.
Not usually true. Being let go for performance is not the same as fired for cause. State by state varies, but that's not the norm
OP - Like any other firm, Deloitte has issues. But to brand it as evil and lacking concern (and talent) is a bit extreme. When I had a personal situation, Deloitte accommodated my needs and I took on a short term internal role. I was given healing time. In fact I had positive experiences as a SC and M. It does get a bit toxic at SM level and some people realize that it isn’t for them. The firm recognizes that. There are trainings that encourage you to think about whether this company and line of work is for you or not. As far as exit options go, my team at Director level here at a big tech has ex- McK, Bain, World Bank, Deloitte, GE plus homegrown talent. So Deloitte (certainly S&O) does get you interview options and beyond that exit is your own making.
Thanks D HR. Is FB becoming the new Glassdoor? Aka fake reviews by HR and bullshit anecdotes.
I mean no one is working for a D if they can work for daddy McK?
Rising Star
OP tbf what MBB does (increasing performance bar for counsel to leave) is basically the same as a layoff, except without the publicity problems.
I think this is more a problem across all big consultancies
OP—do you work at McK?
If so, I feel like that’s reason enough for someone to want to work at Deloitte.
Transparently laying off 5% after facing significant demand shift =/= treating people like shit. Maybe they’re not an employee of your choice but their benefits, comp, reputation are still way ahead of many consultancies and most other industries. Maybe you should ponder a little harder.
Well in general if you could work at McKinsey, you would rather than Deloitte (all things being equal).
If you are working at Deloitte over EY and KPMG as examples it is because compensation and talent at Deloitte are typically better as is reputation and exit opportunities.
Insightful post SC 6. Anyone know what’s the latest with ‘em LEK bois? Furloughs should be ending, have partners started pounding on doors groping for buyers to look at a fire sale of the company? Lol
Exactly! Why would anyone with options go to Harvard?
You're*
Who hurt you?
Rising Star
I was gonna say exactly that, but refrained. Seeing it typed out, I can now only thank you.
I’m beginning to suspect OP is Dwight Schrute
Also, so thankful 🙏 I work at an amazing firm with exceptional people and most importantly leadership that actually has empathy for its people during a health crisis. I feel D is a place people go, are treated like dirt and leave with a bad taste.
A few things, Mck is like 1/5th the size of Deloitte and also no one would choose Deloitte over Mck - we didn’t get an MBB offer hence we are at the D or other B4/ACN
One reason to work for D (or any of the B4) over MBB would be shorter working hours. If you place a particularly high value your personal time, it would make sense to pick D over MBB.
Waiting for the next train wreck reply from OP. Been a while.
OP might have overdosed on whatever drug lead them to spout this tirade.
Pro
Not everyone has options that pay as well? 🤷♂️
Lol OP. Good luck with that entitlement and ego. I’m sure you’re hella fun at parties.
You might be in the wrong industry
I have worked extensively with McKinsey in my career particularly during my time in industry. Restructuring means layoffs as do most things that are “tax effective.”
These “low life” companies you speak of are all of us and our clients who are why we get paid. If you want ideals, NGO’s snd non-profits are potentially better paths.
Rising Star
This thread. Wow.
I for one decided to stick with D than move to McK... it depends always on market offering, growth factors and so many others
Op: so all you need right now is for D to stop telling that they hire the cream in the market?
Or is this about you or someone you knew getting laid off and not agreeing with the reason so you chose to trash talk about entire D?
Honestly not sure if you need empathy here or some entitlement to be called the best to be hired
1) sick of D douches over selling and under delivering... constantly. All while doing what is in the best interest of D vs the client
2) been disgusted with their behavior for a long time -- just look around, sexual harassment, discrimination lawsuits, sending employees who leave after a year to collections for sign on bonus, anecdotes about racist jokes, jokes about mental illness, overall treating employees like trash
3) their behavior during the pandemic is just illuminating what I've already noticed- an awful place that could care less...
4) pointing out most high performers and exceptional people i know could work there but choose not to for many of the same grievances I have with them (harassment, discrimination, treating people like trash, layoffs constantly)
There are many examples of hard hit firms that didn't lay off their staff during a pandemic and health crisis... D isn't even hard hit so give me a break.. if a casino in Vegas can do it I'm sure D can muster the courage 🙄
For me they represent the rot in America -- an example of lack of people strategy and empathy.
A1 depends on the type of roles that person is looking into with Deloitte. What are some example options?
EY-Parthenon dedicated to no layoffs I'm just smh @deloitte
EY-P2, have you noticed increased involuntary attrition in the basis of “performance?”
What do you have personally against big D?
Overarching statements are wrong a lot of of the time, but I agree Deloitte does have a culture problem..