New Delhi: Global consulting powerhouse McKinsey & Co. has revealed plans to eliminate approximately 360 jobs worldwide, affecting around 3 percent of its specialist and technically skilled workforce. The decision was made public on April 11, as reported by Bloomberg.
The job cuts will have repercussions across various divisions within McKinsey, including design, data engineering, cloud, and software, according to sources familiar with the matter cited by Bloomberg. (Also Read: Swiggy Delivery Partner Caught Stealing Shoes in Viral Video, Company Reacts: Watch)
As per the report, a spokesperson for McKinsey said in an inquiry, "We invest to grow capabilities that match our client’s priorities and adjust the size of a small number of others as appropriate. As part of this process, some roles will be eliminated within this small number of capabilities." (Also Read: Setback For OnePlus? Mobile Retailers' Body Threatens To Stop Sales From May 1)
The reductions are part of McKinsey’s strategy to align the size of certain capabilities with the evolving priorities of its clients. This move comes amidst a slowdown in demand for consulting services across the industry.
Contrary to concerns, it is reported that the job cuts may not significantly impact McKinsey’s traditional consulting staff.
In addition to workforce reductions, McKinsey has also taken steps to address performance concerns. Approximately 3,000 consultants have been cautioned about the need to improve performance standards within the organization.
McKinsey boasts a global workforce of over 45,000 employees spread across 130 cities worldwide.
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