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
Ok intern
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