US EditionMcKinsey plots thousands of layoffs in consulting slowdown: Bloomberg
McKinsey aims to reduce about 10% of its non-client-facing staff after revenue stagnated near $15–$16 billion amid cautious client spending.
- Next year, McKinsey & Company plans to reduce staff in non-client-facing roles, laying off about 10 percent in a move Bloomberg reported could roll out over the next year.
- Having expanded headcount in prior years, McKinsey & Company, Bloomberg reported, now faces slower growth prompting planned cuts after rapid hiring.
- Revenue has remained around $15 billion to $16 billion, while clients grow more cautious about big consulting bills.
- Bloomberg reported the staff-reduction plan at McKinsey & Company, the consulting powerhouse known for advising companies on efficiency and cost cutting.
- Across the sector, major consultancies have trimmed comparable roles, and rivals like Accenture, EY, and PwC have made similar moves, Bloomberg reported.
16 Articles
16 Articles
Do McKinsey Layoffs Signal Trouble for Consulting Industry?
After careful review, McKinsey is suggesting broad cost-cutting measures that amount to layoffs of up to 10% of total staff … for its own business. Hey, at least the firm is consistent. Amid flatlining growth, executives at the hundred-year-old consultancy firm are pushing back-office units to get leaner, according to a Bloomberg report on Monday. Is it the end of a consulting era as we know it? Cost Control McKinsey’s planned layoffs of a few …
The Straits Times
Business TimesMcKinsey plans thousands of job cuts in slowdown for consulting industry
McKinsey & Co. plans to cut thousands of jobs across non-client-facing departments as the consulting industry faces a significant slowdown. Read more at straitstimes.com.
McKinsey eyes thousands of jobs cuts
Consulting giant McKinsey is reportedly planning thousands of job cuts, part of a larger slowdown across the industry. The company, along with peers EY and PwC, has gotten leaner over the past few years to weather a slump that has seen clients — including businesses and governments — grow more cost-conscious, Bloomberg reported. Accenture said that US President Donald Trump’s push for federal agencies to cull consultancy contracts has hurt reven…
McKinsey Plots Thousands of Job Cuts in Slowdown for Consulting Industry
As McKinsey & Co. partners gathered in the consulting giant’s birthplace in late October, Bob Sternfels delivered a rallying cry. “We will kick some ass as we start our second century,” the firm’s top executive told the thousands of attendees.
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