It seems like these consulting firms are going to slash anyone who isn't billable. As long as you're able to bill to a client, feel like you're safe?
However, This is likely in correlation to general reduced spending across the board causing reducing spending with firms. With all the cost cutting, most high cost consulting/outsourcing is the first on the chopping block.
Consulting firms are great when the economy is good and executives don't mind throwing money around. When budgets get scrutinized, those contracts get downsized or not renewed at all.