Overview
- Bloomberg and The Times report the firm is drawing up plans that could eliminate several thousand non-client-facing roles.
- Targeted reductions would focus on support functions, which account for about half of McKinsey’s roughly 40,000 employees.
- A company spokesman cited rapid advances in artificial intelligence and an internal push for efficiency but declined to confirm numbers.
- Senior partners have begun initial talks on shrinking teams, and no final decisions have been made on the size or geographic scope.
- The move follows stalled revenue growth and sector-wide cutbacks at major consultancies since 2023, as Fed Chair Jerome Powell warns official U.S. hiring data may be overstating job gains.