McKinsey is laying off white-collar workers — and it's a sign of something bigger

The consulting giant's latest cuts carry symbolic weight far beyond McKinsey itself, signaling a broader reckoning for white-collar America

Credit: McKinsey & Company 

McKinsey & Co., the business strategy consulting firm that has long advised CEOs and Fortune 500s on how to “streamline” their workforces, is now preparing to cut its own workforce.

The company is planning deep cuts across its non-client-facing staff, Bloomberg reports, as much as 10% of headcount within some areas, a move that could eliminate several thousand jobs over the next 18 to 24 months.

The job cuts come at a moment of simultaneous growth and contraction for the consulting industry. After a multi-year hiring spree that pushed McKinsey’s workforce above 45,000, revenue growth has stalled. The firm now employs closer to 40,000 people, and utilization rates across the industry have reportedly sagged as........

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