McKinsey & Company how likely is McK to layoff people with the current and upcoming economic situations? I'm seeing layoffs everywhere on LinkedIn. Considering leaving big4 for McK offer but wondering which would be safer.

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M doesn’t do explicit layoffs the way other orgs do but may temporarily raise the bar on reviews so a greater number of CTLs (fires) occur

likehelpful

This is a persistent false news. There is no raising the bar for CTL to manage numbers.
1) The review rubric is the same irrespective of macro market conditions
2) while sitting on review committees no one is ever told here is our CTL quota to meet.
3) It takes two review cycles (usually, barring some egregious values issue) for someone to get CTLed, so not a quick intervention if it was to be used.

The high level of attrition means that numbers can be managed effectively by reducing hiring. This was done in previous slowdowns (not used much during COVID). During COVId there was some pushing back of start dates but hiring was not drastically reduced.

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Agree with McK 1, McKinsey does not lay off. Even during COVID, all talks regarding lay offs were dismissed by the leadership. There were no layoffs

likefunnyupliftinghelpful

No it really doesn’t. There is no incentive to leave, no targeted layoffs, etc.

People can and do get CTLed (basically fired) for individual performance issues but that happens independent of business factors and is driven by individual performance

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You’d be okay :) take it!

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No guarantee big4 doesn’t do layoffs as well. Just something to keep in mind when making your decision. But best of luck in either case!

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Re-read that…

funny

McKinsey historically has not done layoffs - including after 08 recession and during Covid

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I actually spoke with a senior partner about this and he said that in the long term layoffs actually hurt more which is why they have stopped laying people off. Currently, they don’t have many EMs as many left during Covid, which limits their ability to serve more clients. They have been hiring quite aggressively

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Everyone lays off , including places like Apple, sometimes they don’t have to disclose it since it’s a handful here or there. No where is safe right now

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Nowhere ever been safe.

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