McKinsey defers partners’ bonuses as dealmaking dries up Dealmaking Partners at management consultancy McKinsey have reportedly voted to defer part of their bonuses as the company sees a slowdown in demand for its services amid a slump in corporate deals.
Bob Sternfels faces opposition to be re-elected as McKinsey boss CONSULTING McKinsey head Bob Sternfels' bid for re-election is reportedly facing internal opposition due to mass layoffs and a slowdown in growth during his tenure.
Elite global firm McKinsey in US Justice Department hot chair over Opioid crisis Law Consultancy firm McKinsey has been placed under criminal investigation in the US over its role in the country's Opioid crisis.
McKinsey to cut up to 2,000 staff in one of its biggest round of layoffs ever February 22, 2023 McKinsey is planning to cut up to 2,000 back-office staff as it seeks to control costs and retain its partner payouts. The plans could affect up to 2,000 of McKinsey’s 45,000 staff, in one of the consulting firm’s largest rounds of job cuts ever. McKinsey’s plans, first reported by Bloomberg, are set to see [...]
McKinsey pulls staff out of Russia and sends them to Kazakhstan March 17, 2022 Consultancy giants McKinsey and BCG are pulling their staff out of Russia and sending them to the former Soviet republics of Kazakhstan and Azerbaijan. Big Three consulting firm McKinsey has already sent its Russian employees to Almaty, the largest city in Kazakhstan, according sources speaking to Financial News. Meanwhile, Boston Consulting Group (BCG) is [...]
McKinsey helped ‘turbocharge’ opioid sales while working for US regulators, House committee says April 28, 2022 Consultancy giant McKinsey played a “pivotal role” in the US opioid crisis by helping Purdue Pharma “turbocharge” sales of opioid painkiller Oxycontin whilst working for US drug regulators, a Congressional report has said. The multi-billion-dollar consulting firm helped Purdue develop strategies to boost sales of its addictive painkiller, by advising the firm to offer its [...]
McKinsey to face racketeering lawsuit, after case revived in appeal January 20, 2022 A US court has reopened a case against consultancy giant McKinsey, alleging the US firm filed false statements in bankruptcy courts to win lucrative consulting contracts. The US Court of Appeals revived a racketeering case put forward by consulting firm AlixPartners, claiming McKinsey misled the bankruptcy court over its conflicts of interest, meaning it won [...]
Bain, McKinsey and BCG outgun Big Four with huge salaries and big bonuses January 28, 2022 The Big Three consulting firms – Bain, McKinsey, and Boston Consulting Group (BCG) – are now offering considerably higher salaries than the Big Four accounting firms – EY, PwC, KPMG, and Deloitte – new figures from Management Consulted show. A tight global labour market in 2021 and stiff competition among white collar firms has caused [...]
McKinsey and BCG face calls to cut ties with Russian businesses, after pledging to sever links with Putin government March 1, 2022 Consultancy giants McKinsey and Boston Consulting Group (BCG) are facing calls to further sever their links to Russia, after both firms said they would stop working with the Russian government. The calls come after the UK government called on City of London firms to cut ties with Putin’s regime. Consulting giant McKinsey is facing calls [...]
McKinsey wins govt contract worth up to £3m: fights off competition from EY, Bain and Boston Consulting August 23, 2021 McKinsey & Company has won a contract worth up to £3m to consult the government on digital, data and technology services ahead of the annual spending review, according to reports. The firm fought off competition from EY, Bain and Boston Consulting Group, according to reports, which suggest that the contract, valued at £53,571 per day, [...]