With mass layoffs happening across all companies in tech, wondering why tech consulting firms such as EY, PWC, Delloite are relatively less impacted.
1. Don’t think they over hired and 2. for every 1 us employee here there are 5 in low cost center .. so cost is always balanced.
They always over hire to show their bench strength. Thays why being on the "beach" is a common thing in consulting
But you need a labor force that you can deploy once you win contracts. If you don’t have the labor force, it can be hard to win those contracts.
A lot of time they’re working on projects that have been paid for by companies well in advance, so theres no reason to nullify a contract and risk being sued.
They are impacted. Bench resources get axed every recession. Maybe not as bad this round, but absolutely they trim every downturn.
Those companies are helping to cut costs, layoffs are costs cutting. Companies that use consultancies usually aren’t IT first, and not affected that much by the market.
Bc they are the ones executing all the layoffs. “Tech consulting” will thrive during these trying times.
Savages
All year round high attrition rates, due to underpay + heavy workload + cut throat culture
Cause some companies still run on paper records and they need tech
All of the above ✅
Imagine this: If the businesses are looking to cut down slack and can get around managing their own tech teams, outsourcing tech projects seems to be a solid way out. Which is good for tech consulting.
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They pay less to employees and charge more to all those firing companies
payless ? mind sharing your TC and yoe ?