McKinsey & Co. to Cut About 2,000 Jobs

I usually when you hear the McKinsey consultants are coming to see you. It sends a shudder through most organizations. They have a roadmap for dine sizing. They have a roadmap for every organizational restructure. Well you've heard the physician heal thyself and this is exactly what McKinsey are doing. They're cutting 2,000 jobs we understand. It's under the banner title Project Magnolia.

Just to give you a little bit of context. I mean this is going to be the biggest pullback in jobs at McKinsey ever. Forty five thousand employees just to give you some some background on this. In twenty twelve you had seventeen thousand employees by twenty seventeen twenty eighteen twenty eight thousand employees. So there has been this explosion to forty five thousand employees. And the cuts are going to come from the non-client servicing team. So this is very much everybody else who's not at the front of the cold face with the clients.

This probably means their consultants will all have to do an awful lot more of the let's say grunt work that is done by many assistants preparing a whole variety of collateral that you put in front of the client revenue for twenty twenty one was fifteen billion dollars. The assessment is that it will of course be higher than that in twenty twenty two. And this all comes under Bob Stenfels. New leadership at McKinsey. So we keep an eye on that. Don't forget all these tech companies and banks. They are changing the narrative of Amazon Microsoft.

Golemans Morgan Stanley all downsizing in a variety of jobs and areas.

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