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Stockreport

Why is McKinsey cutting thousands of jobs during its 100th anniversary year? [Los Angeles Times (CA)]

Coca-Cola Company (The) (KO)  More Company Research Source: Los Angeles Times
Last coca-cola company (the) earnings: 4/21 05:55 am Check Earnings Report
US:NYSE Investor Relations: coca-colacompany.com/investors
The firm's revenue growth has flatlined over five years despite expanding from 17,000 to 45,000 employees, prompting a reset toward leaner operations. Cost-conscious clients, reduced government spending, and geopolitical headwinds in China and Saudi Arabia are pressuring the industry's flagship firm. As McKinsey & Co. partners gathered in the consulting giant's birthplace in late October, Bob Sternfels delivered a rallying cry. “We will kick some ass as we start our second century,” the firm's top executive told the thousands of attendees. But away from the 100-year festivities in Chicago, McKinsey bosses have been conveying a more pragmatic message: It's time to get leaner. The firm's leadership has discussed with managers in non-client-facing departments the need to cut about 10% of headcount across their business, according to people with knowledge of the matter. That could amount to a few thousand job cuts that McKinsey would stagger over the next 18 to 24 months, the peo [Read more]
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Stockreport

Why is McKinsey cutting thousands of jobs during its 100th anniversary year? [Los Angeles Times (CA)]

Coca-Cola Company (The)  (KO) 
More Company Research Source: Los Angeles Times
Last coca-cola company (the) earnings: 4/21 05:55 am Check Earnings Report
US:NYSE Investor Relations: coca-colacompany.com/investors
The firm's revenue growth has flatlined over five years despite expanding from 17,000 to 45,000 employees, prompting a reset toward leaner operations. Cost-conscious clients, reduced government spending, and geopolitical headwinds in China and Saudi Arabia are pressuring the industry's flagship firm. As McKinsey & Co. partners gathered in the consulting giant's birthplace in late October, Bob Sternfels delivered a rallying cry. “We will kick some ass as we start our second century,” the firm's top executive told the thousands of attendees. But away from the 100-year festivities in Chicago, McKinsey bosses have been conveying a more pragmatic message: It's time to get leaner. The firm's leadership has discussed with managers in non-client-facing departments the need to cut about 10% of headcount across their business, according to people with knowledge of the matter. That could amount to a few thousand job cuts that McKinsey would stagger over the next 18 to 24 months, the peo [Read more]
IMPACT SNAPSHOT
EVENT TIME:
KO
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Price Change %
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%
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Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
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Low:
MAX DOWN
Low:
%
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%
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%
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TICKS
AVG SHARES PER TRADE
EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
TIME AND VELOCITY ANALYSIS