The report said the move is expected to focus on support staff who do not have direct contact with clients of the company, known for advising businesses on a variety of projects including layoffs.

McKinsey did not immediately respond to a Reuters request for comment.

The Bloomberg report said the layoffs are a part of Project Magnolia, which the consulting firm hopes will help preserve the compensation pool of its partners. It added that McKinsey is looking to restructure how it organizes its support teams to centralize some of the roles.

Last week, the Financial Times reported that KPMG was cutting close to 2% of its workforce in the United States, a move which made it the first of the world's four biggest accountancy firms to slash jobs in the country.