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@ 2023/05/15Firms that recommended mass lay offs might be replaced
While there are concerns that AI will replace workers with algorithms, there is one area where it might serve up a big dose of karma on an industry which has put more workers on the breadline than any other – the consultants.
For years expensive management consultants have gone into companies, looked at their books and usually recommended mass layoffs and asset stripping. While these antics increased stock prices and executive bonuses it resulted in the destruction or at least weakening of the middle class.
Outfits like McKinsey provided a way to get something done but allowing managers to feel less responsible about the decisions. After all, it was not their choice to sack staff, it was the advice of the management consultants. Such consultants made their name and a fortune effectively putting people onto the street.
While there are concerns that AI will replace workers with algorithms, there is one area where it might serve up a big dose of karma on an industry which has put more workers on the breadline than any other – the consultants.
For years expensive management consultants have gone into companies, looked at their books and usually recommended mass layoffs and asset stripping. While these antics increased stock prices and executive bonuses it resulted in the destruction or at least weakening of the middle class.
Outfits like McKinsey provided a way to get something done but allowing managers to feel less responsible about the decisions. After all, it was not their choice to sack staff, it was the advice of the management consultants. Such consultants made their name and a fortune effectively putting people onto the street.
