Capsule · The news app for modern leaders

Trends and Insights

illustration image for the article
25 Nov 2023

McKinsey And Its Peers Face Hardest Economic Blow in Years

The $860 billion consulting industry, including McKinsey and PwC, faces its toughest challenges in years due to costly ethics scandals and a fluctuating global economy. Despite significant budget cuts and layoffs, largely affecting back- and middle-office staff, fines and settlements have cost the industry hundreds of millions. Amidst growing regulatory scrutiny, consultants continue to face severe criticisms, as illustrated by PwC Australia's leaked confidential government tax plans. [Source](