APRIL 14, 2024 — 360 EMPLOYEES TARGETED
The company is continuing its strategic workforce restructuring, which involves reducing approximately 360 positions across various specialized departments and targeting those with technical expertise, including design, data engineering, cloud, and software team members.
According to a company spokesperson, “We invest to grow capabilities that match our clients’ priorities and adjust the size of a small number of others as appropriate. As part of this process, some roles will be eliminated within this small number of capabilities.”
MARCH 1, 2023 — Original post…
New York, New York-based McKinsey & Company, a global management consulting firm servicing corporations, governments, and other organizations has announced a major cost-reduction program to benefit the company's partners.
The initiative will impact approximately 2,000 non-customer-facing support staff employees while not affecting partners.
According to published reports, "Under a plan dubbed Project Magnolia, the management team is hoping the move will help preserve the compensation pool for its partners. The firm, which has seen rapid growth in its headcount during the past decade, is looking to restructure how it organizes its support teams to centralize some of the roles.
A company spokesperson noted, “We are redesigning the way our non-client-serving teams operate for the first time in more than a decade so that these teams can effectively support and scale with our firm."
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?