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McKinsey & Co., the management consulting firm known for often recommending layoffs to companies in distress, plans to slash about 2,000 jobs as part of a restructuring plan of its own, according to reports Tuesday.
Bloomberg News reported that McKinsey’s job cuts will focus on its non-client-facing support staff, and will be among the company’s largest round of layoffs ever. The Wall Street Journal later Tuesday matched Bloomberg’s reporting.
Bloomberg reported the plan to streamline operations is expected to be finalized in the coming weeks, and the final number of job losses may change.
McKinsey did not immediately respond to a MarketWatch request for confirmation or comment.
Layoffs have been sweeping across corporate America amid recession fears, with more than 107,000 workers losing their jobs in the tech sector alone this year.
Privately-held McKinsey reportedly employs about 45,000 people, up from around 28,000 five years ago.
