Global Consulting Giant MC Kinsey is all set to fire 2000 employees. McKinsey had in last five years increased its headcount to 45,000 from 28,000 and the current round of layoffs would be company’s biggest ever.
McKinsey to cut 2,000 jobs in one of the biggest layoffs
Sources have stated that Mckinsey is planning to lay off those employees who are in Administrative roles and do not deal with the clients. In a bid to implement cost saving measures, after having recruited heavily all these years , Mc Kinsey plans to centralize its support services for consultants.
Company Spokesperson said in an email statement,
“ We are redesigning the way our non-client servicing teams operate for the first time in more than a decade, so that these teams can effectively support and scale with our firm,”
Mckinsey is a legacy US Management Consulting firm , which was founded 100 years ago and has business operations in more than 130 countries and had clocked record revenue of $15 billion in 2021 and that exceeded figure in 2022.
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Wipro to lay-off 300 employees
In the meantime, Indian IT services giant Wipro has fired 300 employees in recent months who were found to be moon lighting for competitors, as it weighed on a practice that has gained momentum across the globe as firms incorporate work from home norms.
Rishad Premji, Chairman of Wipro stated,
“As part of transparency, individuals can have candid and open conversations around playing in a band or working on a project over the weekend. That is an open conversation that the organisation and the individual can make a concerted choice about, on whether that works for them or doesn’t,” .
In another related development IT employee union NITIES has filed complaint against Wipro with the Labour Ministry and it has stated that it is now reducing the salary of freshers unethically , which is a clear violation of the terms of the offer letter and a breach of contract.
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