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The Latest Breaking News from McKinsey

Governments are increasingly reliant on consulting firms. Critics says it's often to their detriment

Critics say governments are outsourcing their own knowledge and activities to consulting firms, yet these firms aren't held to the same standards as the public sector.

ABC News

Middle managers spend the bulk of their time on non-managerial tasks

A recent McKinsey & Company survey finds managers spend only about a quarter of their time managing employees.

Fortune

Consultancy 'warp' drive deepens crisis of capitalism

In recent years, McKinsey & Company has become a household name -- but for all the wrong reasons. One of the "Big Three" consulting firms, its work for major corporations and governments has increasingly become a source of scandal and intrigue around the world.

Bangkok Post

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Who Gets Believed? by Dina Nayeri review – the Kafkaesque ordeal faced by refugees

The author uses her first-hand experience of migration to examine the flaws and hypocrisies of the asylum system

The Guardian - UK

CFO as a service: This company offers C-suite talent a new way to work

When founders and CFOs need help, they can hire one of Paro’s thousands of remote finance professionals.

Fortune

ChatGPT: how to prevent it becoming a nightmare for professional writers

Nearly half of white-collar professionals have tried using ChatGPT to help with their work, according to a recent survey of more than 10,000 people at blue chips such as Google, JP Morgan and McKinsey. That’s staggering, considering the AI chatbot was only released to the public in November. It’s potentially…

The Conversation

The Black tech talent gap could become wider in next decade

Black representation in tech will stall without intervention, according to a McKinsey report.

Fortune

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City monopolies: Back-covering is hurting entrepreneurs in the Square Mile

City Voices: Big name inertia when picking advisers needs to be challenged

Evening Standard

McKinsey to cut about 2,000 jobs in one of its biggest headcount reductions

McKinsey Co plans to eliminate about 2,000 jobs, one of the consulting giant’s biggest rounds of cuts ever.

The Times of India

Return-to-office mandates threaten corporate diversity goals

Remote work made it easier to hire Black workers, most of whom live outside corporate hubs like New York City and San Francisco. A return to the office could undo those gains.

Fortune

$Secrets of a fractional CFO$

Secrets of a fractional CFO

In just a day or two each week, fractional CFOs can move the needle at companies.

Fortune

The Big Con by Mariana Mazzucato and Rosie Collington review – how consultancy firms cash in

From Puerto Rico’s bankruptcy to Britain’s Covid contracts, the private firms taking over public life

The Guardian - UK

Mariana Mazzucato: ‘The McKinseys and the Deloittes have no expertise in the areas that they’re advising in’

The economist argues that consultants are hobbling the state’s ability to perform the role of economic motor

Financial Times

How McKinsey reached over 150,000 job candidates using a video game

McKinsey is throwing out its old recruiting playbook and seeking new sources for talent.

Fortune

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Fortune

Middle managers embrace wokeness because it increases their influence and job security, new paper says

“Woke” culture could be costing companies, the authors say.

The Guardian - AU

Dominic Perrottet defends appointment of Liberal donor brother of Angus Taylor to NSW body

Exclusive: Party treasurer Charlie Taylor has attended fundraisers hosted by the minister who appointed him

Newsroom.co.nz

Auckland was struggling even before the historic flooding

A successful Minister for Auckland could foreshadow a substantially revised Cities and Regions government focus, says Mark Thomas

Axios

The space industry is attracting new business

The space economy has grown a lot in the last 10 years.

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The Guardian - UK

Oil prices fuel doubling of profits from global commodities trading, report finds

Companies such as Vitol and Trafigura in spotlight over profits after Ukraine invasion

The Guardian - US

Absence from work at record high as Americans feel strain from Covid

More than a million people have called out sick for the past three years, and CDC says long Covid probably a contributor too

Reuters

Macron campaign accounts cleared by French audit body

French President Emmanuel Macron's 2022 election campaign finances, which came under scrutiny amid a wider controversy linked to U.S. consultancy McKinsey's ties to his government, were cleared by an audit commission, the body said on Friday.

Axios

China wants a more efficient workforce but analysts say that will be tough

By 2100, China is projected to have a workforce size of less than 400 million.

Fortune

Apple, Disney, Salesforce: Why are the world’s best companies failing to innovate on the future of work?

Disney and Apple have adopted a traditionalist perspective on how to innovate, which ironically hinders innovation, writes Gleb Tsipursky.

Reuters

China's pessimistic Gen Z poses challenge for Xi post-COVID

The first weekend after COVID-19 restrictions ended last month, dozens of young Chinese jostled in the dark at a heavy-metal concert in a tiny Shanghai music venue that reeked of sweat and hard liquor.

Fortune

The companies that had the best shareholder return in the previous recessions did these three key things

Despite what you'd think from the latest string of job cuts, history has shown that businesses that made long-term strategic moves before an economic downturn came out on top.

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