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- Layoff or Payoff? McKinsey offering 9 months of pay to leave
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!
-THIS WEEK-
📰 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
🔦 Jobseeker Tools - PlatoHQ, Metaview Answers, Himalayas
💼 Jobs of the Week - ZoomInfo is still hiring!
-LAYOFF REPORT-
📰 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.
Would you take 9 months of pay to leave your job? |
Other Notable Layoffs:
Amazon cuts hundreds of jobs in cloud computing unit
Dell reduces its global workforce by 13,000 jobs
Edtech company Byju's goes ahead with cutbacks, fires 500 staffers
Lightspeed Commerce cutting 280 jobs as it focuses on profitable growth
-JOB MARKET DATA & TRENDS-
📊 Layoff numbers are settling, but layoff discussions still high
Layoff chatter might've dipped from the front page after a big start to the year, but the workplace vibe's still on edge. How do we know? Well, mentions of the "L-word" in Glassdoor reviews took a hike in March, jumping 28% compared to last year. It's like déjà vu from the second half of 2023—layoffs took a breather after an early-year frenzy, yet the buzz among employees just kept climbing.
Turns out, fretting over job security doesn't always line up with the actual axing numbers, but the toll on team spirit and how folks feel about their jobs? That's sticking around way longer than the suits might think.
In related news, folks have caught onto the whole "we hired too many people" excuse execs are using to justify layoffs. Loads of companies, tech ones in particular, are saying "oops, our bad" for going on a hiring frenzy in 2021, chasing after pandemic trends that kinda fizzled out.
There's a buzz in Glassdoor reviews about this overhiring thing, with mentions shooting up 24% from last year, which is 3.4 times what it was back in March 2022, way before the layoff storm hit. But the funny thing? Nobody really made a peep about all that extra hiring until the job cuts started rolling in.
-JOBSEEKER TOOLS-
Plato HQ - www.platohq.com
Plato is a Community for Engineering Leaders. Engage in 1-on-1 Mentorship, Benefit from Cohort-Based Learning, and Access Exclusive Content.
Metaview Answers - www.metaview.ai/assistant
Just type in a question and our AI will instantly summarize key information, recall exact details, and discover underlying insights from interviews.
Himalayas - himalayas.app
Experience the remote ecosystem — find a remote job you love, research the fastest-growing remote companies, and hire experienced remote workers.
-JOBS OF THE WEEK-
💼 ZoomInfo is still hiring!
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Check out the rest of the ZoomInfo roles below!
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