Consulting large McKinsey & Co is planning to chop about 2,000 jobs, in one among its greatest spherical of layoffs, Bloomberg Information reported on Tuesday, citing individuals with data of the matter.

The report mentioned the transfer is anticipated to concentrate on help workers who don’t have direct contact with purchasers of the corporate, recognized for advising companies on quite a lot of initiatives together with layoffs.

“We’re redesigning the way in which our non-client-serving groups function for the primary time in additional than a decade, in order that these groups can successfully help and scale with our agency,” an organization spokesperson mentioned in an emailed assertion to Reuters.

The Bloomberg report mentioned the layoffs are part of Undertaking Magnolia, which the consulting agency hopes will assist protect the compensation pool of its companions. It added that McKinsey is trying to restructure the way it organizes its help groups to centralize a few of the roles.

Final week, the Monetary Instances reported that KPMG was chopping near 2% of its workforce in the US, a transfer which made it the primary of the world’s 4 greatest accountancy corporations to slash jobs within the nation.