McKinsey to shed 2,000 jobs: report

Global consulting giant McKinsey plans to let go 2,000 of its employees, Bloomberg News reported Tuesday.

McKinsey layoffs

The round of layoffs would be one of the company's biggest ever, according to Bloomberg, which said the firm had increased headcount from 28,000 to 45,000 over the past five years.

Citing anonymous sources, Bloomberg said the number of employees affected could still change, and are expected to primarily target administrative staff who do not interact directly with clients.

McKinsey is seeking to centralize its support services for its consultants in a bid to save money after having recruited heavily in recent years.

Founded almost 100 years ago in Chicago and now operating in more than 130 countries, the consultancy had a record revenue of $15 billion in 2021, and exceeded that figure in 2022, according to a Bloomberg source.

Many large US companies, especially in the tech sector, have announced layoffs in recent months, following years of rapid growth fueled by the accelerated digital transition during the pandemic.