Thread regarding Chevron Corp. layoffs

I need to write a book on “when E&Y comes to town”. BCG and McKinsey create beautiful decks and have Harvard MBAs. The EY folks are a preview of what ENGINE will be like. Sitting on calls with 30 of these low skilled folks while they spew McKinsey-like messages but very not eloquent in how they do it. And they need things explained 100 times. No, not just the India team. Even their US associates are re--rded

In When McKinsey Comes to Town, two prizewinning investigative journalists have written a portrait of the company sharply at odds with its public image. Often McKinsey's advice boils down to major cost-cutting, including layoffs and maintenance reductions, to drive up short-term profits, thereby boosting a company's stock price and the wealth of its executives who hire it, at the expense of workers and safety measures. McKinsey collects millions of dollars advising government agencies that also regulate McKinsey's corporate clients. And the firm frequently advises competitors in the same industries, but denies that this presents any conflict of interest.

That is a great video.

I have friends in the tech industry. The standing opinion is that McKinsey comes in when leadership is out of ideas and are convinced the solution is slashing employees (not them). They then can point to McKinsey and push any blame on them for let’s say…firing 20% of a company when stock is doing well.

9:30 in is disgusting. What a bunch of losers. They are the go to justification for providing a justification for cost cutting. Except when it comes to paying EXECUTIVES!

Never underestimate how overpaying for poor advice makes the advice priceless!

Definitely worth a listen. Talks about layoffs 9 minutes in.

They are so brilliant. Listen to the examples of the value their digital team adds about 8 minutes in. WTF!

https://youtu.be/AiOUojVd6xQ?si=cZCIrVzwoExnAQIu

This is funny....