Recently saw this post on LinkedIn and made me worried. This person works in EY. Does the leadership or anyone have confirm news of people getting mass laid off in Consulting companies?#layoff #severance #big4 #consulting
On the other hand, big companies outsource their software/admin works by reducing their own staff. Seen that happening in last recession.
EY is trying to IPO in the near future. They will avoid layoffs at all costs until that is completed. There haven’t been any layoffs in US EY. Fake news, ask me how I know
We're pretty much sold out so I doubt it, even the bottom of the barrel guys are staffed these days
Who’s “we”. Your practice? It takes one day to cancel SOWs.
Consulting, not US though. true regarding cancelling projects, could happen but I have yet to see that happen in more than 18 years in consulting. I have seen RFPs evaporate but not ongoing projects cancelled
Promotions in the subsequent cycles will go to be hard, and they are going to cut resources in a silent way for the split. The CEO wants to do the split ( he need to make happy all the ey partners first )
EY technology consulting does not have many projects in the pipeline and they put there employees where ever to make them Billable and it is sink or swim scenario. It becomes toxic atmosphere and not a good position to be in. The EY sales people cannot sell and EY rates are high and they are not know for technology( late to the game) as compared to other big 4. EY bread and butter is audit, tax and assurance and not technology unfortunately😃.
Yes imo Big 4 is going to be impacted severely in 2023. Especially Consulting area, thats the first thing Clients will stop as part of cost cutting or restructuring.