Layoffs at McKinsey & Company, a global management consulting business, might begin as early as this week. A Bloomberg article estimates that 1,400 people might lose their jobs as a result. The revamp of the company’s employees might result in significant layoffs and a reorganization of job duties.
According to Bloomberg, the consultancy firm is laying off workers while seeing strong employee growth. McKinsey is undergoing major changes and letting go of hundreds of staff as a result of the global economic slump. As per the data, nearly 3% of the workforce could be affected by layoffs.
Some of our firm functions colleagues will be leaving, and we will be assisting others in transitioning to new jobs that are more in line with our strategy and values. Bloomberg cited a statement from McKinsey’s global managing partner, Bob Sternfels, in which he informed employees that the firm will begin notifying colleagues who would be leaving the company or being asked to change jobs as of immediately. Bloomberg estimates that the corporation presently employs over 47,000 people. In 2012, it was around 17,000. According to an earlier Bloomberg story, McKinsey & Company will lay off over 2,000 workers.
As the corporation attempts to reorganize how it structures its support teams to centralize some of the tasks, the report claims that support personnel in areas that don’t have direct contact with clients would be the ones affected by the job cutbacks.