McKinsey Layoffs
FT is reporting that McKinsey has cut 10% of their headcount due to slowing revenue growth. What are everyone’s thoughts?
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not a very nuanced description of what’s actually going on and more so a clickbait news title. rather than there being a sudden 10% mass layoff, we’ve seen a gradual reduction in mck’s workforce from 45k to 40k over the past 1.5years. a lot of the workforce reduction is voluntary attrition for ppl seeking a better wlb and lifestyle. however, there have been stricter performance standards (shortening review cycles from 12 months to 3 months) in order to increase organic attrition and expanded ai use cases: when people in certain back office roles quit, there’s no refilling bc of new ai capabilities. but that’s something that’s happening across the whole industry and not unique to mckinsey
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