Accenture started COVID-related layoffs today. Details are still unclear but ~10% of U.S workforce is the internal target being thrown around. Cyber practices heavily impacted.
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Well MBBD is dead and now there goes MBBA. What's next? MBBEY?
MBB&?
.
Canary in the mine consultants are
You think?
Basically everyone I know who deals with outside consultants says it's usually against their will because someone higher up either wants an easy way to look like they're addressing a problem or they're looking to have an excuse to implement something that they wanted to do anyway. Translated, that makes them an expensive luxury.
The issue gets compounded when you work your way down from the Big 3 to Accenture and the Big 4. I know plenty of people in Big 4 consulting: some drink the Big 4 Kool Aid, the more down to earth ones shit on it constantly. One dude quit his grad role after a year because he knew his team wasn't adding any real value. I've only personally heard anecdotes about life at Accenture but their reputation for being a shitshow has always stood out.
IMO there's a place for consulting but this crisis is the opportunity for some much needed liposuction.
If he quit after a year then he learnt nothing about consulting, so I doubt he could understand how much value he or his group were adding.
To really get a good grasp of how the consulting business works you need at least 3-4 years. That’s why you need 2 years as an Analyst and 2 years as an Associate/Consultant before you make it to a Manager role, because only by them you know how it really works and you can run the show.
I was chatting with some higher-level ex co-workers at my old firm (lateral from B4 advisory) and they mentioned no bonus, no raises, and lay offs will be buried as “performance related”.
The Hertz debacle probably did not help
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