Financial Highlights from the Recent Week You Should Know About:
- CONSULTING: McKinsey experiences largest drop in headcount in its history
In the last 18 months, McKinsey’s headcount plummeted by more than 10%, the largest drop in its history.
The consulting behemoth’s cuts in headcounts is what the general consulting industry is seeing too.
As their main competitors at Deloitte and Booz Allen have also experienced massive drops in headcounts recently. - BANKING: JPMorgan Make Bets on the Affluent
JPMorgan is set to launch 14 new retail branches that cater to high-net worth / affluent clients.
These branches boast hotel-like amenities while the bank tries to woo wealthy Americans.
The branches are refitted locations from their acquisition of First Republic bank in 2023.
While the minimum in deposits & investments is set at $750K, the bank is mostly targeting those with around $2M-$3M. - CRYPTOCURRENCY: Corporate Crypto Buying.
Some companies are starting to diversify & stockpile Bitcoin.
There are about 114 publicly listed companies that own Bitcoin, the latest being GameStop and Trump Media. [Source: Bitcoin Treasuries.net] - AI: Don’t want to pay for ChatGPT? Move to UAE
The UAE is fitting the bill for ChatGPT Plus subscriptions for ALL its citizens at no cost to the citizens.
If that’s not a sign for you to get cracking on using AI, then we’ll need to change the adage:
“You won’t lose your job to AI. You’ll lose it to someone using AI.” => “You won’t lose your job to AI. You’ll lose it to someone in UAE using AI.”
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