COVID-19 has added a new layer of complexity for businesses across the world. It has threatened our health and safety and our livelihoods, as companies plunged almost overnight into totally uncharted territory.
The crisis will likely affect all aspects of business from how and where goods are sourced, to where they are bought and sold, to where work gets done, and to how it gets done.
Governments have also have injected billions of dollars into
The market for consultants has declined this year to an estimated $132 billion from $160 billion because of decreased client demand, according to research platform Statista. The crisis put a strain on corporate budgets, forcing some to cancel or pause projects with major clients. Giant advisory firms including KPMG and Accenture have laid off thousands of workers, and some consultancies like Ernst & Young have deferred promotions and performance bonuses for employees.
COVID-19 forced leading consultancies to cut travel budgets, shut down offices, and collaborate remotely with clients and colleagues.
The novel coronavirus has fundamentally changed the way consultants do business. Business Insider reviewed research and spoke with prominent leaders at major consultancies like PwC, KPMG, and