McKinsey plans to cut 2,000 jobs in one of its biggest layoffs - Bloomberg News
The logo of consulting firm McKinsey and Company is seen at the high profile startups and high tech leaders gathering, Viva Tech,in Paris, France May 16, 2019. REUTERS/Charles Platiau/File Photo
Feb 21 - Consulting giant McKinsey & Co is planning to cut about 2,000 jobs, in one of its biggest round of layoffs, Bloomberg NewsThe report said the move is expected to focus on support staff who do not have direct contact with clients of the company, known for advising businesses on a variety of projects including layoffs.The Bloomberg report said the layoffs are a part of Project Magnolia, which the consulting firm hopes will help preserve the compensation pool of its partners.
Last week, the Financial Times reported that KPMG was cutting close to 2% of its workforce in the United States, a move which made it the first of the world's four biggest accountancy firms to slash jobs in the country.
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