Is there anything Good that ever comes from McKinsey

[AU5]

All I know is that if a company hires them then guys lose their jobs.
So is there any point that they ever gave sound advice?

In history, they did these. So why do they keep getting hired?

• • Advocating side pockets and off balance sheet accounting to Enron, it became known as “the firm that built Enron” (Guardian, BusinessWeek)
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• • Argued that NY was losing Derivative business to London, and should more aggressively pursue derivative underwriting (Investment Dealers’ Digest)
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• • General Electric lost over $1 billion after following McKinsey’s advice in 2007 — just before the financial crisis hit. (The Ledger)
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• • Advising AT&T (Bell Labs invented cellphones) that there wasn’t much future to mobile phones (WaPo)
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• • Allstate reduced legitimate Auto claims payouts in a McK&Co strategem (Bloomberg, CNN NLB)
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• • Swissair went into bankruptcy after implementing a McKinsey strategy (BusinessWeek)
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• • British railway company Railtrack was advised to “reduce spending on infrastructure” — leading to a number of fatal accidents, and a subsequent collapse of Railtrack. (Property Week, the Independent)

 

[kijanamrefu]

In countries with lax laws, big firms and multinationals hire companies like these to have a 'scientific' basis to break business relationships and fire people that they were going to fire anyway.

 

[Ice_Cube]

McKinsey is a downsizing consultancy firm. A fancy way of saying it only brings bad news to employees.