McKinsey & Co. to Cut About 2,000 Jobs

The video discusses the trend of organizational downsizing, focusing on McKinsey's plan to cut 2000 jobs under Project Minor Magnolia. This marks the largest job reduction in McKinsey's history, targeting non-client servicing roles. The company has grown significantly from 17,000 employees in 2012 to 45,000, and the cuts will impact support staff, increasing the workload on consultants. McKinsey's revenue was $15 billion in 2021, expected to rise in 2022, under new leadership by Bob Steinfels. The video also highlights similar downsizing trends in major tech companies and banks like Amazon, Microsoft, Goldman Sachs, and Morgan Stanley.

What is the name of the project under which McKinsey plans to cut jobs?

• Project Major Magnolia

• Project Minor

• Project Minor Magnolia

• Project Magnolia

How many employees did McKinsey have in 2012?

• 17,000

• 28,000

• 45,000

• 20,000

Which teams at McKinsey are primarily affected by the job cuts?

• Client servicing teams

• Executive teams

• Non-client servicing teams

• Consultant teams

Who is the new leader at McKinsey overseeing these changes?

• Bob Steinfels

• John Doe

• Jane Smith

• Alice Johnson

Which of the following companies is also experiencing downsizing?

• Amazon

• Google

• Facebook

• Apple