Consulting firms like McKinsey and BCG are facing challenges with record-low attrition rates, leading to layoffs and concerns about the quality of their advice. McKinsey is criticized for its handling of employee retention and the impact on its performance and reputation. The industry is experiencing significant turmoil with reports of layoffs and a perception that consulting may be in decline.
Shocked to learn that McKinsey & Co. just made up this "common knowledge business fact" to sell more Diversity Trainings and ESG services to Fortune 500 corporations / Government agencies. If we can't trust McKinsey & Co. whitepapers, who can we trust?? https://t.co/snZi3Cm5qA
Hell of a shock ad on the Front Page and Back of WSJ today. “Consulting is dead” amidst weekly stories of industry layoffs, shrinking partner classes, etc. Embark has pretty… interesting branding if they are challenging McKinsey, BCG, etc. Feels more creative agency imho. https://t.co/H9U0xoauB6
Hell of a shock ad on the Front Page and Back of WSJ today. “Consulting is dead” amidst weekly stories of industry layoffs, shrinking partner classes, etc. Embark has pretty interesting branding if they are challenging McKinsey, BCG, etc. Feels more creative agency imho. https://t.co/CB4dk4rJUh
Firms including McKinsey and BCG have been trying various ways to boost record-low attrition in the sector, from offering staff financial incentives to leave to laying off hundreds https://t.co/eNuxx9u6Oj https://t.co/vRo0B9D00U
“We somehow stopped the meritocracy,” said one former McKinsey partner. “We stopped pushing people to leave and had an enormous overhang of people. When that happens the numbers just get staggeringly bad. Don’t we advise companies on this?” https://t.co/nXsGRKOcOt