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 is cutting jobs?

• Project Minor Magnolia

• Project Major Magnolia

• Project Minor Oak

• Project Major Oak

How many jobs is McKinsey planning to cut?

• 1000

• 2000

• 3000

• 4000

What was the number of employees at McKinsey in 2012?

• 17000

• 28000

• 45000

• 35000

What is the expected revenue for McKinsey in 2022 compared to 2021?

• Lower

• Higher

• Same

• Unknown

Which companies are mentioned as also downsizing in a variety of jobs and areas?

• Amazon, Microsoft, Goldman Sachs, Morgan Stanley

• Apple, Google, Facebook, Tesla

• IBM, Oracle, SAP, Cisco

• Netflix, Adobe, Salesforce, Twitter