McKinsey Top Consulting Shop - Biggest Cuts in 100 Years (Patreon)

McKinsey & Company, a leading consulting firm, is cutting 10% of its staff—the largest reduction in over 100 years—due to a sharp slowdown in revenue growth in the consulting market. Meanwhile, companies no longer need McKinsey to tell them what to do, AI already does. This is a tough outlook for MBA consultants. ALso a reason no longer to send your kids to MBA School (Think about this - I have a masters in finance from Wharton and I no longer recommend it!)

AI IMPACT:

AI is disrupting the consulting industry by offering data-driven insights and strategic recommendations for free and in seconds. Companies can now use AI tools to analyze markets, optimize operations, and develop strategies internally, reducing the need for expensive external consultants. This trend is likely accelerating McKinsey's challenges, as AI empowers businesses to be more self-sufficient, fundamentally reshaping the demand for human-led consulting services.