Mirwaiz said these people are being even when they have moved on and were not involved associated with any form of violence for decades now. Hurriyat leader Mirwaiz Umar Farooq while addressing Friday congregation at Jama Masjid in Srinagar urged the authorities to stop arresting people in decades
McKinsey Cuts 200 Tech Jobs Amid AI Shift, More Layoffs Likely
McKinsey Cuts 200 Tech Jobs Amid AI Shift, More Layoffs Likely
McKinsey & Co. eliminated about 200 global technology roles in the past week as the consulting giant accelerates the use of artificial intelligence to automate internal functions, joining a growing list of firms reshaping their workforce around AI, Bloomberg reported.
McKinsey may pursue additional reductions across support functions over the next 24 months as it expands AI deployment, the report added, as the company is reviewing which tasks can be transitioned to AI systems as part of a broader efficiency push.
“AI is enabling unprecedented levels of opportunity and impact for us and our clients," a McKinsey spokesperson told the outlet, adding, “We are continually working to make our professional support functions more efficient and effective, including by taking advantage of AI."
Global Managing Partner Bob Sternfels has repeatedly said McKinsey is prioritising investment in roles that directly serve clients, even as it scrutinises non-client-facing headcount. The firm employs about 40,000 people, including nearly 3,000 partners.
“We are continuing to add folks who are client deployed. We will upskill folks more, we will probably have fewer in non-client-deployed areas, but they will be leveraged by today's technology and AI," Bob Sternfels earlier said.
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McKinsey's move comes as the consulting industry faces simultaneous pressures: tightening corporate spending, shifting government policies and rapid technological disruption. The wave of AI adoption is already reshaping workforce plans across industries. Global banks alone may eliminate as many as 200,000 jobs over the next three to five years as AI automates processes traditionally handled by humans. JPMorgan Chase CEO Jamie Dimon has repeatedly said that while the technology will displace roles, it will also create significant opportunities.
Banks worldwide have been experimenting with AI tools to streamline processes and cut costs, with Citigroup previously projecting the technology could add USD 170 billion to the banking sector by 2028. According to Citi estimates, 54 percent of roles in the industry have high potential for automation.
Source: News18
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Mirwaiz said these people are being even when they have moved on and were not involved associated with any form of violence for decades now. Hurriyat leader Mirwaiz Umar Farooq while addressing Friday congregation at Jama Masjid in Srinagar urged the authorities to stop arresting people in decades
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