McKinsey has reduced its new partner class by approximately 35%, with around 250 people set to become partners early next year, down from about 380 a year ago. This move reflects the impact of economic conditions on the demand for high-priced consultants. The news comes amid similar actions by Ernst & Young, which is laying off dozens of partners across its U.S. businesses due to slowing demand for certain services and cost-cutting efforts.
Ernst & Young is laying off dozens of partners across all 🇺🇸 businesses, a deeper round of partner cuts than usual as the Big Four accounting firm faces slowing demand for certain services and seeks to cut costs - WSJ
🔸 Ernst & Young Is Laying Off Dozens of Partners Across All U.S. Business Lines, Sources Say -- WSJ 🔸 EY Layoffs Include More Than 10% of Partners in Consulting and 4% in Strategy/Transaction Advisory, Sources Say -- WSJ 🔸 The cuts are largely concentrated on the advisory…
WSJ News Exclusive: McKinsey cut its new class of partners by roughly a third, the latest sign that economic conditions have dented demand for high-priced consultants https://t.co/YIx12jiVTo https://t.co/YIx12jiVTo
Consulting giant McKinsey cuts new partners class by about 35% - WSJ https://t.co/5llm28TWkF https://t.co/spcpt3F1lh
McKinsey Cuts New Partner Class by Roughly 35% https://t.co/l2jpJjFNEj
Consulting giant McKinsey cuts new partners class by about 35% - WSJ https://t.co/54CVEI3sn2 https://t.co/ff9SsLXt4w
Consulting giant McKinsey cuts new partners class by about 35% - WSJ https://t.co/U0VWJ9UvXd https://t.co/AHmODhuz6j
Consulting giant McKinsey recently told employees around 250 people would become partners, down from about 380 a year ago https://t.co/gcgnWfx299 via @WSJ via @NeelyTamminga
MCKINSEY SHRINKS NEW PARTNER CLASS BY ROUGHLY 35% Mckinsey recently told employees that ~250 people would become partners early next year down from around 380 a year ago - WSJ
This year, McKinsey cuts its partner class by 35%, bullish