Overview

• McKinsey reduced its global headcount by more than 10% over the past 18 months, cutting from over 45,000 to about 40,000 employees.
• In 2023, the firm eliminated 1,400 back-office roles and dismissed 400 data and software engineering specialists under its major restructuring plan.
• A stricter performance review process has prompted additional exits among underperforming consultants.
• Slower post-pandemic consulting demand and legal liabilities from a $1.6 billion opioid-related settlement have driven the overhaul.
• The company says it will welcome thousands of new consultants in the coming year to support its growth ambitions.