McKinsey climbs 10 % of employees in the profit campaign for two years

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MCKINSEY has reduced more than 10 percent of its employees in the past 18 months, reflecting the large expansion plan that reached its climax during the Koronavirus virus’s pandemic when the advisory services were high demand and the company increased by the workforce by about two -thirds.

The consulting company has about 40,000 employees, according to the people familiar with the matter, compared to more than 45,000 at the end of 2023, when it recently published a number.

The functional cuts, the largest of which is in the history of MCKINSEY for nearly 100 years, reflects the sharp slowdown in the growth of revenues in the consulting market. The group was also hit with $ 1.6 billion in legal settlements from its work for us Opion manufacturers.

In addition to the demobilization of 1400 rear office employees in the restructuring began in 2023, MCKINSEY last year rejected 400 specialists such as engineering and programs. also Increase pressure on the weakest consultants To resign through the unusual difficult performance review program in the middle of last year, according to the people familiar with the matter.

McKinseyThe number of main employees grew by about two -thirds in the five years until 2023, as it expanded beyond its basic consulting services to the implementation of the project on a large scale and flourished in business for all consulting companies during the epidemic.

Since the consultation boom ended, the number of employees who left the professional services groups was voluntarily Slave to register its lowest levels. The low level of attrition has sparked many groups by surprise, following the “great resignation” when the huge job market and epidemic effects led to the resignation of workers in favor of more rewarding roles or the best wages in other places.

Bob SterensilsMcKinsey Global’s administrative partner told colleagues last year that the company intends to be “in balance” by the end of 2024.

The number of McKinzi contradicts the shrinking number of employees with his smaller rival BCGAnd, which last month reached a 10 percent increase in global revenue to $ 13.5 billion for 2024 and said that the workforce has grown by about 1,000 people to 33,000. The number of employees was 30,000 years ago.

McKinsey’s workforce “45000 Plus” was at the end of 2022 and 45100 at the end of 2023, according to its annual reports. The 2024 report, published this month, did not include employee numbers.

The report also did not include a number of revenues 2024, unlike previous years. McKinsey revenues amounted to $ 16 billion in 2023.

“Our company continues to grow and we do more influential, more than ever. We continue to employ strongly and we will welcome thousands of new consultants in our company this year,” McKinsey said.

In addition to the growth of the slowdown revenue, the consulting industry competes with the introduction of obstetric artificial intelligence, which is scheduled to be automated by the tasks performed by young employees while increasing the productivity of others.

Janet Trnesali, the international CEO of EY, said at the annual conference of the Milken Institute this month that her company will not reduce jobs in response to Amnesty International, but can do more. “I would like to think we can double the size with the workforce we have today,” she said.

McKinsey said: “The ICSI provides new levels of productivity for our teams,” McKinsey said.