The Big Picture
- As part of its main segment, Last Week Tonight with John Oliver discusses McKinsey & Company’s questionable practices, including their work with major polluters and their reputation for firing employees.
- McKinsey specializes in advising and finding solutions for major corporations, such as Coca-Cola and the U.S. Department of Defense, earning an estimated annual revenue of $15 billion.
- McKinsey reportedly profited from the opioid crisis by promoting the sales of OxyContin, while also working with the FDA to convince them of the “safety” of Purdue’s products.
As it happens when there’s a lot of high profile stories going on in the world, Last Week Tonight With John Oliver had to do a bit of a balancing act with what to cover inside the country and overseas. The host discussed the Palestine and Israel war, as well as the incriminating evidence in the Senator Bob Menendez indictment, before moving on to the main segment.
The main segment this week saw John Oliver dedicated a good amount of time to McKinsey & Company – a consulting corporation that’s been around for almost a century. One of the evidences that McKinsey has been around for so long is that the company helped invent the barcode, an element that’s been pretty much part of everyone’s life for as long as we can remember. This is because they specialize in finding solutions and advising on problems of other corporations like Coca-Cola, Best Buy, AT&T, U.S. Department of Defense and several others.
Due to this list of clients, it shouldn’t be a surprise that McKinsey’s annual revenue is estimated at $15 billion. However, their importance might have been a bit overstated when a McKinsey partner came on record to say “there are only three great institutions left in the world: The Marines, the Catholic Church, and McKinsey.”
‘Last Week Tonight’ Questions McKinsey’s Methods
The segment also points out that McKinsey has had deals with several companies that are considered the planet’s biggest polluters, and this is why they don’t often publicize their client list and hardly announce where their offices are. The company’s employees have also earned a reputation as “the go-to consultants for managers seeking justification for savage cost-cutting” due to their strategy of simply firing people with no regard to their mental health or company history, all the while they advertise themselves as a company with a “purpose to create positive enduring change in the world.”
Last but certainly not least, McKinsey also profited off the opioid crisis in the U.S., especially by turbo-charging the sales of OxyContin. All of this happened while McKinsey was providing counsel and working with the FDA at the same time, and with projects designed to persuade the government agency in believing in the “safety” of big pharma company Purdue’s products – including OxyContin for kids!
And those are only the surface-level problems of McKinsey, Oliver states. You can watch the full main segment of Last Week Tonight With John Oliver below:
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Khushi Patel is a science fiction author who lives in Austin, Texas. She has published three novels, and her work has been praised for its originality and imagination. Khushi is a graduate of Rice University, and she has worked as a software engineer. She is a member of the Science Fiction Writers of America, and her books have been nominated for several awards.
