McKinsey is also responsible for the DEI garbage:
Interesting short Reddit below:
https://www.reddit.com/r/Layoffs/comments/1iml6me/mckinsey_normalized_layoffs_in_all_industries/
Several studies tested McKinsey's "studies" and they found them to be inaccurate.
https://www.wsj.com/finance/investing/diversity-was-supposed-to-make-us-rich-not-so-much-39da6a23
(Paywall, so summarized with AI below)
"Diversity Was Supposed to Make Us Rich. Not So Much."
Wall Street Journal
James Mackintosh
The core points of the article and its context include:
Challenging the McKinsey studies: The headline references influential 2015 research by the consulting firm McKinsey that suggested a link between corporate diversity and financial outperformance. Mackintosh's article and other academic work question the methodology and conclusions of the McKinsey research.
Marketplace testing and recent findings: The article notes that since 2015, the idea that diversity directly leads to higher profits has been "tested in the fire of the marketplace and failed," with academics unable to replicate the findings. Subsequent research, like a University of Chicago study in 2024, found no statistically significant link between executive diversity and profitability in S&P 500 companies.