Global management consulting firm McKinsey has opted for an unconventional route to cut down its headcount. As per British newspaper The Times, the company has announced that it will offer career coaching and 9 months of full paid leave for its employees who are interested in departing the company.
This comes amidst its efforts to decrease its workforce in response to a downturn in the sector. The 9 months leave is given to managers in the UK division. The 9 month salary could add up to hundreds of thousands of pound. 9 months later, the staff members will have to leave McKinsey even if they are unable to find a new job during this period.
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Amid the downturn in Consulting, McKinsey had previously attempted to reduce its workforce. As per Bloomberg, the company had announced plans to cut approximately 1,400 jobs, which accounts for around 3% of its workforce last year. The publication has further mentioned that McKinsey had given poor performance ratings to 3,000 employees who were given around three months to improve their performance, or they may be advised to leave the company.