McKinsey Starts Cutting 1,400 Jobs This Week in Restructuring

McKinsey & Co. is embarking on a rare round of major job cuts, with plans to eliminate about 1,400 roles.

The consulting giant, which has seen rapid growth in its headcount over the past decade, is restructuring how it organizes its support teams starting this week, including workforce reductions or moving people into other roles. The total cuts will amount to about 3% of headcount that has ballooned to almost 47,000 from 28,000 just five years ago and 17,000 in 2012.

“The painful result of this shift is that we will have to say goodbye to some of our firm ...