EY is starting to layoff employees in the US if your not billable on a project and they need to cut cost to make the numbers.
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Project must be ending soon and hitting the Bench? What was the reason?
They are letting go people even if they are on billable projects. It happened to many of my team members including myself.
EY has had additional layoffs employees, starting with talent folks and consulting side.
Iam sure there are more to come as we go into March 2023.
2033? You bi--hes have time
EY partners collect their salary from the work the seniors, manager and senior managers do. They are a collection group.
You need kiss *ss to be on the good side of partners if you can. Otherwise you are at the mercy of you leader in your group. It is not what you know, it is who you know will get you promoted and abit of luck with right place at right time to survive.
All the EY partners and Senior managers needs to get fired. They don't really provide any value. They need to leave before the Seniors and Juniors get affected.
Has anyone else heard anything about the timing of this? In what geo/regions is this happening in?
Strategy & Management consulting in the US is a small world. When at risk, the good’ol big boys & girls help each other jump ships with hefty separation, hiring bonuses, and salary increases. Capgemini Directors jump to EY as VPs. Accenture Managing Directors jump to Deloitte. PWC leaders jump to McKinsey and the reshuffle continues over and over. So, if you see your leaders jumping ship, that means a big purge is coming and it’s too late for you to do anything other than doing the same and jump before getting hit with a cr---y package that won’t keep you alive for more than 2-3 months.
Question for those that were let go. Did you utilize any of your LOA benefits? FMLA; short or long term disability? Anything like that? I’m curious
They are using performance as a scapegoat to eliminate positions and cut cost. The truth of the matter is the economic conditions are not good and competition is fierce and they are not winning in the market for new projects and hence people sitting on the bench and metrics are below plan and much below from last year.
Is this true if u were hired in Nov and not started on a billable project , how does ur performance get rated
Yes agree with both of these posts. This is exactly what happened to me and another that I’m aware of personally. I’m sure many others as well. Also, what’s interesting for me is that I was on a three month leave so I was not even around when performance reviews were given. Hmmmmm Very sneaky indeed.
Definitely its happening. Even if you are billable they are eliminating under the umbrella of last fiscal performance review or so they are saying. Seems like they are trying to do it before the next review cycle closes in 2 weeks. Very sneaky.
Yes. This is happening. I just got my notice. Eliminating positions based upon performance reviews for the last fiscal year.....or so they say....