Hearing stories of layoffs at Deloitte Consulting. Boston, Chicago, and LA confirmed. All in S&O. Firm does not appear to be doing well. Anybody here affected/know more?
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Thanks for the monkey shit guys...can't say it was deserved. -_-
The individuals in question are all post-MBA, second-year SC's. Timing seems strange as they would be due for a tuition reimbursement, etc. upon promotion months from now. My contact was staffed on a project and his current team/other senior managers/other partners were unaware.
Agree with Bluevball8 that it is likely "soft performance." My wording of the firm "not doing well" might have been a little strong. Just reporting what I am seeing.
This isn't isolated to S&O. Technology Consulting is in a complete hiring freeze except for campus hires you already have offers. I can confirm as I was laid off and have good performance reviews. I talked to the CEO of consulting and the chief talent officer of consulting. Both confirmed a hiring freeze.
You guys are missing a classic trick in every large firm's book...hell even the government uses this one and they've got some of the most inept HR management on the planet.
Sometimes "layoffs" don't need to be labeled as such. All you need to do in order to obtain a slight reduction is to artificially and slightly raise the bar on "low performance" and keep doing that until you've trimmed as much staff as you want. It doesn't work for major cuts but if you want to cause a slow trickle out over the next few months or the next year or two it's more than sufficient.
I'm not saying this is the case there (I'm not tied into Deloitte enough to know) but if those of you who do know hear about noticeably larger numbers than usual getting let go for "low performance" that's a strong indicator.
So, yeah, it happened to me. I was in what I understand was a second wave of layoffs, and the Partner and HR rep doing mine indicated they had been at it a while. I know it is happening in S&O, it seems mainly Public Sector. The market has been super soft, especially with a). Completion of many HIX systems now going to M&O ode the techs can handle, b). Some HIX systems being divested to the feds, and c). Governments putting off projects while waiting for the elections. I'd been utilized pretty poorly lately, as had the people I know.
I'd share more about my quals and location, but I do not want to be identified. I'll say that I am pretty qualified for Public Sector and had been there a while.
I have talked with people at the SC and Manager level, with one to five years with Deloitte. Everyone I spoke to got eight weeks plus accrued PTO - no difference by tenure. It's administered in an interesting way... one stays on payroll for the eight weeks, then the PTO gets paid out in a lump sum. Here's the issue... if you go to another employer at any point, they write you the check for the rest of your severance. Unless you go back to Deloitte! Then you lose the remaining severance. So if you get a new job quickly, you have a $10k plus incentive to not accept an offer from Deloitte (say they offer you an internal role).
They did not do performance reviews for people being laid off. So all that bad utilization will not bite you if you try to come back. I know people say never go back, but, to me, this is just the market and I harbor no ill will (other than some annoyance that the P/D who did it was not someone in my network).
So, for those wondering how you know... Sort of the order I have heard it happens...
If you are rehirable, internal recruiters actually may be eager to chat. It's a good reason not to do anything improper on the way out.
Remember when you send your goodbye e-mail to CC your personal address and set the "Reply to" as that one.
Personally, I found the experience calm and easy. Just take it with grace and move on.