Apparently there's no work being offered for staff, and they don't want to let people know they're doing layoffs - so they're incentivizing people to quit voluntarily to keep brand image https://www.tiktok.com/t/ZTLkewvwG/
It is 9 months of salary, the person is an associate partner with TC 550K
Engagement managers according the vid - but those are the people that help jrs find projects
So they make deals with clients and create projects for their team? Thatās pretty high up
I mean that's a pretty sweet voluntary severance offer.
True
Who wouldn't take this vs being let go later with minimal to no severance?
Nothing unusual for MBB. It's an "up or out policy" all the way to a partner level, so you are out either because of performance or because there is no opportunity to advance due to limited future scope. In either case, they offer something for you to leave in dignity.
According to the employee that posted it - relatively recent trend there
Hmmm, it has taken a different shape recently or it may become more common due to current economic environment, but this is not a completely new practice.
I think they should hire consultants to tell them how stupid a decision that is
This
They should hire Deloitte to help them streamline and flatten the org structure.
What sweet irony that would be.
We would be deloitteād to
They mentioned itās obvious why this is happening. Is economy improving and thereās no work at McKinsey?
Workforce is barebones lean, what do u even consult to layoff
The MBBs grew headcount too much over the years. Ironic considering that clients hire them to help with strategy.
That is on top of the quiet layoffs
They are implementing AI to do the research and putting together nice powerpoint presentations. Sometimes the AI makes stuff up or makes up future trend statistics which is a perfect replacement of staff to add that personal touch.
Lol. Please avoid commenting if you don't know what you are talking about.
Leo35. I know several BCG folks here in the Boston area and some pretty well connected people in the industry. AI is great for researching markets, M&A targets, legal or regulatory research, very time consuming repetitve market data & analysis, etc. Infact, two ex Mckinsey consultants are creating AI tools and have measured the AI's output vs. real teams of consultants. The AI consistently delivered better quality M&A targets for various companies. Before a small team of analysts could search through thousands of companies and narrow down a handful of most promising targets. Take an AI that can scour millions of companies online and the various data bases and do this in the fraction of time. Metamate can go do some research on this as you do not know what you are talking about.
Iāll take it and find new job with similar TC, with background from McK, wouldnāt be hard to secure a similar but happier role! The McKinsey name will be forever etched in my resume anyway
Bros glazing so hard
Bold of you to assume Similar TC. Haven't you heard the companies stopped giving shite about brand names in resumes
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$320k or 32 k
320k watch the TikTok vid
You really gonna trust tik tok videos!?