AI advances and West Asia conflict hit Indian consulting firms
Consulting and auditing firms in India are shaking things up as AI gets smarter and the West Asia conflict continues.
Big players like Bain, McKinsey, and the Big Four auditors are cutting jobs and pausing hiring, especially in research and production roles that AI can now handle.
At the same time, there's growing demand for people skilled in AI, data analysis, and risk management.
Firms target research and production teams
Some of the layoffs target research and production teams since AI tools can do much of their work now.
Monica Agrawal, India chairperson at executive search firm Sheffield Haworth, called it a structural reset rather than a downturn.
Those affected by layoffs are getting severance packages but not much notice.
Leadership meetings have also led to a freeze on non-essential hiring as firms adjust to new tech and global challenges.