I was previously at a public European company that was losing money. I was just a lowly engineer when they brought in a McKinsey consultant. A lot of the changes such as layoffs and cost cutting that came after the arrival was already common sense.

I think the company has at least stopped bleeding money. In my lowly position I did not notice any significant change.

I have experienced deteriorating conditions at other companies that accepted vc money then brought in their own people.