McKinsey's Staff Numbers Have Dropped by More than 10% in the Last 18 Months

McKinsey's staff numbers have dropped by more than 10% in the last 18 months

McKinsey is known for its rigorous performance management process.Davide Bonaldo/SOPA Images/LightRocket via Getty ImagesMcKinsey has reduced its global workforce by roughly 5,000 in the past 18 months.The consulting firm went on a major hiring spree during the pandemic.The fall in staff is related to McKinsey's performance management process, not layoffs, a source said.McKinsey's head count has fallen by more than 10% in the last eighteen month…

McKinsey sheds 10pc of staff in two-year profitability drive

The job cuts, which are among the largest in McKinsey’s nearly 100-year history, reflect the sharp slowdown in revenue growth across the consulting market.

Paytm’s Vijay Shekhar Sharma criticises McKinsey amid job cut reports; firm responds

Vijay Shekhar Sharma, CEO, Paytm, sparked discussion online after taking a dig at consulting giant McKinsey & Company, which has reportedly reduced its workforce by over 5,000 in the past 18 months. Sharing a news article highlighting the decline, Sharma kind of mocked by suggesting that artificial intelligence, not traditional consultants, is now the go-to expert. His post implied that tools such as ChatGPT are increasingly replacing traditiona…

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Amid growing chatter around job cuts at leading consulting firm McKinsey & Company, Paytm Founder and CEO Vijay Shekhar Sharma took a satirical swipe, pointing to the rising influence of artificial intelligence. Sharing a snippet from a Financial Times article that claimed McKinsey had reduced its global workforce by over 5,000 in the past 18 months, Sharma posted on X (formerly Twitter), “There is a new consultant in town. The answer is: ChatGP…

McKinsey, the U.S. strategic consultant, has cut her workforce by more than 5,000 employees, according to Financial Times.

Is Gen-AI Behind McKinsey Mass Lay-off of 5000 Employees?

In a stark recalibration of strategy and scale, McKinsey has laid off over 5,000 employees—more than 10% of its global workforce. It is the largest workforce reduction in the firm’s 98-year history, and a telling sign of the forces reshaping the consulting industry.  From 2018 to 2023, McKinsey rode the wave of post-pandemic transformation. The firm aggressively expanded its headcount—growing by nearly two-thirds—to meet the unprecedented demand…