Hello community! Having in mind upcoming recession, what are your views on the hiring / firing rounds from past experiences and sense of what may be coming this and next year?
How quick MBBs are to let people go and would the decision be simpler based on the job level e.g. first cleaning up EMs and APs as they are more expensive and not yet generate the revenue flows, before looking at analysts, associates as they are a cheaper workforce?
What is the typical lag before firms realise they are getting less $$$ inflow and start trimming the FTEs (1-2 quarters)?
How big can this be in % terms? E.g. if revenue is down 20% would you expect to reduce the workforce by 10% to keep some buffer for recovery?