McKinsey is planning to cut about 10% of its support staff in the next one or two years, meaning thousands of jobs will be affected. After a hiring spree over the last decade, they now have around 40,000 employees, but their revenue has stopped growing.
Just last month, McKinsey cut 200 tech jobs worldwide. It seems they are planning to rely more on AI and automation to make things work more efficiently internally. This shift shows that the consulting sector is slowing down, and McKinsey is trying to improve things while focusing on serving clients.
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