500 employees laid off by McKinsey China as part of restructuring and focus shift.

McKinsey & Company is laying off approximately 500 employees, nearly a third of its workforce in China, as part of a restructuring effort. This decision follows a reduction in government-linked clients and aims to mitigate security risks associated with operations in China. The firm intends to shift its focus towards assisting multinational companies and Chinese firms looking to expand internationally amid ongoing geopolitical tensions and a slowing economy.

October 17, 2024
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