Projects are wrapping up, no new projects starting. The bench is filling fast.
I'd say they'll start to RA in about week or two.
I have no insider info, I am merely observing what's happening...
I've survived, 2001 and 2008 - this time is much different, it's broad and deep - there is nowhere to hide.
Good luck, we'll certainly needed.
"imminent recession"
A recession is 2 consecutive quarters of decline and so it can't be officially called a recession until Q2 is over .. and then they will say it started in Q1. Clearly Q1 meets the criteria and Q2 will be worse than Q1. So we are IN it now and it is just the beginning of an exponential global catastrophe.
One question is how many quarters will it last? 5? 6?
A bigger question is are we already in a depression?
With the imminent recession every company will cut back spending including IBM clients.
Can confirm in GBS all new work we were tracking deferred by clients until May. Can’t mobilize on projects slated to start the past month so revenue leakage. Bench is huge and trying to staff people on loan to other BUs to keep jobs.
My team (Lab Services US) sits at 10%.... 90% of the people are on the benched.
I don't see how it could NOT be bad very soon.
I can confirm. My teams utilization sits at 50% presently. It’s going to get ugly.
I can't speak for everyone, but I do know there are certain projects proceeding as normal, and there is new work being signed in GBS Consulting. It's not a ton, but it's there. At least some might be spared.
I’ve observed the same. GBS US, Europe, and AsiaPac were already in the hole at the beginning of the year because nobody is selling. All funding for practice development and offering development that was promised was redirected at end of Jan and teams now struggle to absorb hours. Bench management started in Jan in US. Expect bench management to continue and people to fight each other over little sc-aps of work. Consultancy period in the U.K. started this month. It’s gonna be ugly. GLTA and if you have an offer, get out now.
This is true.
Cuts are immanent.