According to people familiar with the matter, McKinsey management has discussed the need for about 10% layoffs with managers in non-customer-facing departments. People familiar with the matter said this may mean that McKinsey will phase out thousands of jobs over the next 18 to 24 months. The company's revenue growth has stagnated over the past five years, prompting management to start a reset after a decade of rapid expansion.

According to people familiar with the matter, McKinsey management has discussed the need for about 10% layoffs with managers in non-customer-facing departments. People familiar with the matter said this may mean that McKinsey will phase out thousands of jobs over the next 18 to 24 months. The company's revenue growth has stagnated over the past five years, prompting management to start a reset after a decade of rapid expansion.