Professional Services

McKinsey headcount drops 10% as consultants feel the pinch again

Boom years for the sector are reversing with McKinsey the latest to make cuts, according to reports

Reduced demand has led to tough choices at leading strategic advisers
Reduced demand has led to tough choices at leading strategic advisers Photo: Joan Cros/Getty Images

McKinsey’s headcount has dropped by over 10% in the past year and a half as consultancy’s pandemic boom continues to reverse.

The US giant now has 5,000 fewer staff than at the end of 2023 after layoffs and tougher performance management, the Financial Times reported.

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