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McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

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Re: McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

#31

Post by DrBenCarson »

blululu wrote: post #21
kneebonian wrote: post #3

Honestly I'm now wondering how much of these "startegy/management consultants" jobs could be automated with AI. I mean from my understanding their primary work product is a slide deck.

I enjoy a good laugh at the expense of management consultants, and I honestly thought that chat GPT really reminded me of their style. But while slide decks are the only tangible thing consultants produce, they represent a very small amount of the value that consultants bring. Until you can get an AI to navigate cutthroat C-level politics, and defend a strategy from attacks by internal factions that trying to undermi…

Bingo.

MBB consultants' real value is giving executives the breathing room to be able to execute what's in the deck (i.e., driving consensus and navigating difficult politics)

Re: McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

#32

Post by DrBenCarson »

JCM9 wrote: post #13

McKinsey’s brand has taken a beating these last few years with the company going from scandal to scandal. The NY Times has been doing a whole string of stories on the firm’s questionable business practices and ethics. Funny though how it sounds like, per their own admission, McKinsey badly mismanaged running their own internal operation and woke up to realize they need mass layoffs. Sort of causes one to question how…

How is the fact that the economy is not always a linearly increasing line an indicator of poor management?

Also the economy is relatively strong at the moment, so one could argue this is in fact a forward-looking reduction.

Re: McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

#34

Post by shawndimantha »

Eventually GenAI will be a partial replacement for entry level / back office work at partnerships like law firms and management consulting shops. Starts with Harvey and legal documentation, continues to management consulting https://twitter.com/SilasAlberti/status/1608037989623414791?... chatba.com

Re: McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

#35

Post by zmgsabst »

blululu wrote: post #21
kneebonian wrote: post #3

Honestly I'm now wondering how much of these "startegy/management consultants" jobs could be automated with AI. I mean from my understanding their primary work product is a slide deck.

I enjoy a good laugh at the expense of management consultants, and I honestly thought that chat GPT really reminded me of their style. But while slide decks are the only tangible thing consultants produce, they represent a very small amount of the value that consultants bring. Until you can get an AI to navigate cutthroat C-level politics, and defend a strategy from attacks by internal factions that trying to undermi…

AI seems particularly adept at that:

- propose solution

- insist that all feedback must be to ChatAI

- exhaust people who disagree while ChatAI politely insists on its view

- call anyone who works outside the ChatAI “not a team player”

- insist they’re not being constructive because they’re “not adding feedback into the process”

- remove those who persist in not arguing with the wall or complying, using their refusal to “do the job” with ChatAI

- proceed with your original PowerPoint

Re: McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

#36

Post by quantum_state »

JCM9 wrote: post #13

McKinsey’s brand has taken a beating these last few years with the company going from scandal to scandal. The NY Times has been doing a whole string of stories on the firm’s questionable business practices and ethics. Funny though how it sounds like, per their own admission, McKinsey badly mismanaged running their own internal operation and woke up to realize they need mass layoffs. Sort of causes one to question how…

“ Most had never actually run a business or done the thing they were offering up advice on, and it showed.” exactly!

Re: McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

#38

Post by oneoff786 »

turdprincess wrote: post #15
JCM9 wrote: post #13

McKinsey’s brand has taken a beating these last few years with the company going from scandal to scandal. The NY Times has been doing a whole string of stories on the firm’s questionable business practices and ethics. Funny though how it sounds like, per their own admission, McKinsey badly mismanaged running their own internal operation and woke up to realize they need mass layoffs. Sort of causes one to question how…

But wouldn't they basically have no choice but to scale up their own workforce if their client's business is booming? It wouldn't be a good look to say "hey actually we can't take your project on because we believe a recession is coming". Consulting could be even more "boom and bust" than normal companies since consulting budgets might be the first thing to get cut when times get tough.

I work at McKinsey. Many times business is better during hard times contrary to what you may think. ymmv

Re: McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

#39

Post by midoridensha »

JCM9 wrote: post #13

McKinsey’s brand has taken a beating these last few years with the company going from scandal to scandal. The NY Times has been doing a whole string of stories on the firm’s questionable business practices and ethics. Funny though how it sounds like, per their own admission, McKinsey badly mismanaged running their own internal operation and woke up to realize they need mass layoffs. Sort of causes one to question how…

>Most had never actually run a business or done the thing they were offering up advice on, and it showed.

"Those who can, do. Those who can't, teach."

Re: McKinsey Plans to Eliminate About 2000 Jobs in One of Its Biggest Rounds of Cuts

#40

Post by spamizbad »

JCM9 wrote: post #13

McKinsey’s brand has taken a beating these last few years with the company going from scandal to scandal. The NY Times has been doing a whole string of stories on the firm’s questionable business practices and ethics. Funny though how it sounds like, per their own admission, McKinsey badly mismanaged running their own internal operation and woke up to realize they need mass layoffs. Sort of causes one to question how…

If you were competent at running businesses why would you be an associate at McKinsey when you could be a COO or VP or something?
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