What McKinsey’s workforce restructuring reveals about the future of consulting careers

McKinsey & Company’s plans to reduce parts of its global workforce have drawn attention not only because of the firm’s stature, but because of what the move reveals about the evolving nature of professional services. The decision reflects broader structural changes reshaping consulting, from slower growth to the accelerating integration of artificial intelligence into everyday work.

For students, educators and early-career professionals, these developments offer valuable insight into how consulting careers are changing and what skills will define employability in the coming years.

A sector under structural pressure

For more than a decade, global consulting firms expanded rapidly, driven by demand for digital transformation, globalization strategies and organizational change. That period of sustained growth is now giving way to a more restrained environment.

McKinsey’s leadership has acknowledged that revenues have plateaued in recent years, prompting a reassessment of costs and internal structures. Planned reductions are expected to focus primarily on roles not directly tied to client service, underscoring a shift toward leaner operating models.

This recalibration mirrors trends across the professional services sector, where firms are reassessing how value is created and delivered.

Automation reshapes consulting work

One of the most significant drivers of change is the growing use of artificial intelligence and automation tools. Tasks that once required large teams of analysts, researchers or administrative staff can now be performed more efficiently through AI-enabled systems.

In consulting, this includes data analysis, document preparation, benchmarking and elements of research. As a result, firms are rethinking which roles remain essential and which can be streamlined or redesigned.

Rather than eliminating the need for consultants, automation is changing the nature of their work, placing greater emphasis on judgment, synthesis, communication and strategic insight.

The skills that matter more than ever

As consulting firms restructure, the profile of the ideal consultant is evolving. Technical proficiency alone is no longer sufficient. Instead, firms are prioritizing a combination of skills that enable professionals to operate effectively in complex, technology-rich environments.

Key competencies increasingly include:

• Strategic thinking and problem framing
• Data literacy and the ability to interpret analytics outputs
• AI awareness and responsible use of digital tools
• Client relationship management and communication
• Change management and organizational leadership

These skills allow consultants to add value beyond what automated systems can provide, positioning them as trusted advisors rather than information processors.

Implications for consulting education

McKinsey’s workforce adjustment has implications for how universities and training providers prepare future consultants. Traditional consulting education often emphasized frameworks, case interviews and analytical rigor. While these remain important, they are no longer sufficient on their own.

Educational institutions are responding by integrating technology, data and interdisciplinary learning into business and management programs. Courses increasingly combine strategy with analytics, digital transformation and ethics, reflecting the realities graduates will face in professional services roles.

Executive education and continuous learning programs are also expanding, recognizing that consultants must regularly update their skills to remain relevant.

Careers become less linear

Another lesson emerging from the consulting industry’s evolution is that career paths are becoming less predictable. Rather than following a linear progression from analyst to partner, professionals are moving between roles, industries and functional areas.

Experience in technology, product management, data science or industry-specific domains is becoming as valuable as traditional consulting tenure. Firms increasingly recruit professionals with diverse backgrounds who can bring specialized expertise to client engagements.

For learners, this means building adaptable skill sets that allow movement across sectors and roles, rather than training for a single predefined career ladder.

Global competition for specialized talent

Despite job cuts in some areas, demand for highly specialized consulting talent remains strong. Firms continue to invest in experts in areas such as digital transformation, sustainability, cybersecurity and advanced analytics.

This creates a polarized labor market, where generalist roles face greater scrutiny while niche expertise commands premium opportunities. Consulting careers are therefore becoming more selective, with higher expectations for technical depth and strategic relevance.

Global mobility also plays a role, as firms source talent across regions to support multinational clients and global projects.

What students and professionals should take away

McKinsey’s restructuring is not simply about cost reduction. It reflects a strategic response to an industry redefining how work is done and how value is delivered. For aspiring consultants and business professionals, the message is clear: adaptability and continuous learning are essential.

Those entering the field must be prepared to work alongside AI tools, interpret complex data and contribute meaningfully to strategic decisions. Soft skills such as communication, leadership and ethical judgment remain critical differentiators.

At the same time, professionals should expect careers marked by ongoing upskilling and periodic reinvention.

The future of consulting work

The consulting industry is unlikely to shrink dramatically, but it is becoming more focused, more technology-enabled and more demanding in terms of skills. Firms like McKinsey are adjusting their structures to align with this reality, even when that involves difficult workforce decisions.

For education providers and learners alike, these shifts reinforce the importance of forward-looking curricula and lifelong learning pathways. Consulting careers of the future will reward those who combine analytical rigor with digital fluency, strategic insight and human judgment.

As the industry evolves, its workforce will increasingly reflect these priorities, shaping not only how consulting firms operate, but how the next generation of professionals prepares to enter the global business landscape.

Source: Bloomberg