McKinsey Plans to Cut 10 Percent of Its Workforce
The consulting firm that built a business telling companies how to cut costs is now turning that advice inward.
McKinsey & Company, the consulting powerhouse known for advising companies on efficiency and cost-cutting, is now planning to cut its own workforce, according to Bloomberg.
The firm wants to lay off about 10 percent of employees in non-client-facing roles, a move that could roll out over the next year and a half.
The planned cuts come after years of rapid hiring followed by stalled growth. Revenue has hovered around $15 billion to $16 billion, while clients grow more cautious about big consulting bills. Rivals like Accenture, EY and PwC have made similar moves.
McKinsey & Company, the consulting powerhouse known for advising companies on efficiency and cost-cutting, is now planning to cut its own workforce, according to Bloomberg.
The firm wants to lay off about 10 percent of employees in non-client-facing roles, a move that could roll out over the next year and a half.
The planned cuts come after years of rapid hiring followed by stalled growth. Revenue has hovered around $15 billion to $16 billion, while clients grow more cautious about big consulting bills. Rivals like Accenture, EY and PwC have made similar moves.
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