Reports: McKinsey to cut 2,000 of jobs in support staff restructuring
Investing.com | Author Scott Kanowsky
Published Feb 22, 2023 04:40AM ET
Updated Feb 22, 2023 04:53AM ET
By Scott Kanowsky
Investing.com -- McKinsey & Co. is planning to cull about 2,000 roles in one of its biggest rounds of layoffs ever at the global consulting group, media reports said on Tuesday.
According to Bloomberg, which first reported the news, the company will focus the cuts on support staff that do not have essential contacts with clients.
Meanwhile, the Financial Times reports that the reductions could be in the range of several hundred to a couple thousand, although the exact number has not yet been set.
McKinsey told the FT and Bloomberg that it was "redesigning" the structure of its support teams in order to enhance their effectiveness within the wider business.
Citing a person familiar with the matter, the FT added that departments like human resources, technology, and communications would be hit by the overhaul. But McKinsey will continue to hire client-facing staffers as demand for these positions remains steady, the FT noted.
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