Job Title: Principal
Location: Chicago, IL
Submitted on: 07-May-03
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A really tough work environment caused by both the decline int he
Consulting business as well as internal mismanagement. Its no secret
that the integration with the parent company EDS has been a failure as
it has been widely reported in the news including Business Week and
Fortune. Unfortunately you have a senior leadership team that wants to
totally toe the line with corporate and not fix things at all.
Business has been extremely poor and caused by the exit of several
revenue producing officers. Officers have not been paid bonuses over the
last three years and there is a steady stream for the door. This has led
overall business to decline at double digit rates over the last three
years. Net results have been over three rounds of lay-offs. For those
who remain there have been no pay-hikes and bonuses over the last year.
Also the profit sharing contribution to retirement has been stopped.
Most of the work sold to clients has been on a risk basis - essentially
you only get paid if there are real and demonstrated savings. What this
means for Associates is a lot of tension, extremely long hours - close
to 70 a week, and more often than not 5 days a week at the client. This
has led to a high level of burn-outs among consultants and a lot of
frustration. Add to that the fact that there have been no pay-hikes and
you have a very depressing atmosphere at the firm.
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