Consulting layoffs

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’)