Delayed onboarding across consulting firms (MBB too)

Current recession giving ‘08 vibes to consulting companies in India: - Accenture Strategy considering layoffs - Deloitte (Consulting) considering layoffs - Mckinsey - already have done non-consulting layoffs - MBB - expected to push out joining dates for new hires by at least ~6 months (most likely new joiners who were expecting to join in July-Aug 23’ to join only starting Jan 24’) Slow pace of new projects, ramp down of existing big clients, massively over hiring in 2022 (key reason) has led to most people being on the bench. Wouldn’t be surprised if the ‘Up or Out’ model comes into action more aggressively for the upcoming appraisal review cycle(s). Brace for impact! (all unconfirmed, heard through ‘grapevine’)

How is the bench scene like? Are promotions likely to be delayed? What are some rumours

Heard from people I know at Bain that they are laying off. This is mostly the first time an MBB is doing layoffs (earlier they would silently fire, or delay onboarding) A friend got impacted. Seems like this could be 10-15% of their consultants. Unprecedented.

Heard from a junior today that one of the consulting firms is delaying their joining from August to January This is in line with what most other firms have done as well (MBB). I saw the email as well, and the lack of any empathy was alarming. It literally said "We are delaying your joining from to Jan because of changes in training plan" and that we feel this is in your best interests. I get that business would be tough, there are probably not as many cases right now, and hence they are doing this. A) It is screwed up to break commitments for your joining date, just because you don't see as much demand around the period. These students are literally pumped about their first job, and to start off like this is just sad B) At least if you are doing the above, have the courtesy to explain the proper financial reason behind it Overall, really sad to see what graduates this year are having to go through, it's just random.

How’s the hiring scenario at MBB for front end consulting role? Are they accepting referral based interviews?