AI is driving McKinsey’s business model and talent overhaul May 15, 2026 McKinsey & Company’s business model is changing to prioritise performance-based pay, a shift largely driven by the impact of AI, City AM understands. The Big Three consulting giant has told senior staff it plans to overhaul its remuneration structure for partners, with more of their pay potentially coming in the form of equity in the US-headquartered partnership. [...]
KPMG faces staff uproar as job cuts expose communication breakdown May 6, 2026 Big Four audit firm KPMG is facing something of an internal comms meltdown, City AM understands, amid complaints of a lack of communication during a ‘mismanaged’ redundancy round. In late March, it was reported that KPMG UK was set to axe more than 500 staff in the latest redundancy round at the Big Four giant. [...]
AI-focused services make up 40 per cent of BCG’s 2025 revenue April 23, 2026 The global revenue of the consultancy group Boston Consulting Group (BCG) reached $14.4bn (£10.6bn), a single-digit increase over the previous year, credited to AI. BCG reported seven per cent global revenue growth, rising to $14.4bn in 2025 from $13.5bn in 2024, marking its 22nd consecutive year of growth. The firm said its AI-and tech-focused services [...]
M&C Saatchi profit slumps amid Iran war warning and ‘softer’ UK market April 20, 2026 Advertising firm M&C Saatchi expects the Iran war to deal a blow to its sport and entertainment business, and revealed a profit slump for last year. For the year to December 2025, profit tumbled by 34 per cent to £19m. Revenue dipped by more than seven per cent to £205m. The firm, whose chief executive [...]
Accenture bets on British AI talent with Faculty buy January 6, 2026 Professional services firm Accenture has announced the acquisition of London-based AI specialist Faculty, in a deal that cements the City’s role as a global talent hub. The Dublin-based US firm said the acquisition will bring more than 400 AI specialists into Accenture’s workforce, deepening its capabilities in applied AI, decision intelligence and AI safety. The [...]
McKinsey slashes 10 per cent of jobs in major overhaul May 28, 2025 Consulting giant McKinsey has unleashed one of the largest job culls in the company’s history after ten per cent of staff faced the chop. The New York-headquartered firm has reversed major expansion plans, which peaked during the pandemic, as it aims to drive profitability. The consulting firm has reduced its workforce to 40,000 over the [...]
PWC cuts partners and apprenticeships amid slow demand March 12, 2025 Consulting giant PWC UK has made record cuts to its partner ranks and paused its tech apprenticeship scheme to protect partner profits in the face of a sharp decline in consulting demand. According to corporate filings, 123 partners left the Big Four firm in 2024, more than double the annual average since 2002. Meanwhile, the [...]
British financial services consulting market set to struggle this year October 14, 2024 Consulting for the global financial services sector is expected to rebound this year, but the UK is expected to remain in the red for 2024
EY pushes back graduate start dates as deals market slows October 13, 2024 Accounting giant EY has postponed the start dates for around 200 graduate hires as it grapples with a slowdown in business activity. New recruits set to begin their roles at the company’s strategy arm, EY-Parthenon, in the US next month or in January will now not be needed until mid-2024. To support affected recruits, EY [...]
Alpha Financial Markets: Consultancy sees trading boost despite ‘challenging market conditions’ April 11, 2024 Alpha Financial Markets Consultancy, which offers professional services to the financial services industry, has reported improved trading in recent months after "challenging market conditions" dragged on performance at the start of 2024.