McKinsey Offers Employees 9 Months’ Salary So They Can Search For A New Job & Leave

In the aftermath of the pandemic, many big and small companies have reduced their workforce, leading to job losses for numerous employees. The corporate world has become highly unpredictable and vulnerable, leaving people worried about the security of their jobs. This uncertainty has created fear and anxiety among workers, as they grapple with the risk of potential layoffs and economic instability.

However, McKinsey & Company is offering 9 months’ salary to hundreds of its senior employees to search for a new job, reported Moneycontrol. They are also reportedly getting other incentives to quit and pursue other work opportunities.

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McKinsey in the UK refers to this as the “job search” period, during which employees won’t be required to tend to client projects and can use their work hours to search for new jobs.

Basically, they are getting paid to get a new job within 9 months.

During these 9 months, the employees will also have access to the firm’s resources and career coaching services. However, if the employees are unable to find a job within these 9 months, they will still have to leave.

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In 2023, McKinsey announced that they would be cutting down on their workforce as a response to the changing dynamics of the business industry. They reported that they would be cutting down on 1,400 jobs. Last month, they reviewed around 3,000 employees and gave them the option to either improve their performance or leave the company.

Not sure if the employees who were asked to leave the company are happy or stressed out at the moment! 😛

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