Layoff or Payoff? McKinsey offering 9 months of pay to leave

Layoff numbers are settling, but layoff discussions still high, use AI to practice your interviews, ZoomInfo still hiring!

  • 📰 Layoff Report - McKinsey is offering some staff 9 months of pay to leave the firm

  • 📊 Job Market Data - Layoff numbers are settling, but layoff discussions still high

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📰 Layoff or Payoff? McKinsey offering 9 months of pay to leave the firm

The consulting world's feeling the heat with client demand cooling off, leading to a bit of a squeeze on hiring, pushing back start dates, and even nudging some staff out the door. Now, stepping into the spotlight is one of the industry's headliners, McKinsey, who's joining the likes of Zappos and its big parent Amazon, along with SAP, in the "please take a break on us" bandwagon.

They're offering their U.K. crew a sweet deal of nine months' pay plus extras like career coaching and help finding their next gig. And guess what? They're rolling out the red carpet for their U.S. managers too, as reported by The Times of London.

Why is this important?

McKinsey & Company offers management consulting services to businesses, governments, and institutions and are one of the ‘Big Three’ or MBB (McKinsey & Company, Boston Consulting Group, and Bain & Company). Collectively, they are the world's largest strategy consulting firms by revenue. When they start making cuts, it’s a signal for the rest of us to keep an eye on.

Let’s check out Ralph’s take below 👇

It is important to see the canary in this coal mine. The best leading indicator of the broad economy is the consulting business. Clients cut discretionary spend first and earliest, and as the canaries die and those who know little gloat and quote, the basic truth here is look out below.

Ralph Judah - Retired Senior Managing Director at Monitor Deloitte

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