Layoffs at Monitor Monitor announced layoffs today--they're cutting 15% of their North American consultants. Management said it was doing this is to preserve bonuses for junior people at a time when business is slow. I think this is the right attitude: a bottom-up bonus structure acknowledges that junior folk (who do much of the work) must get paid what they're worth or they'll leave and holds management accountable for its poor forecasting. This is much wiser than some tech firms I know about who ended up with 30 know-nothing MBAs and no coders. Having been through this myself, I sympathise with those who were laid off, but also know that great things lie in store for them in the future. Good luck.