McKinsey is offering some staff 9 months of pay and career-coaching services to leave the firm: report
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- McKinsey is offering some managers money and career-coaching services to leave, The Times reported.
- Managers could spend up to nine months searching for a job while being on payroll, the report said.
- Staffers would also have access to McKinsey's resources and career-coaching services.
The management-consulting giant McKinsey is dangling career-coaching services and nine months' worth of pay to staffers keen on leaving the firm, the British newspaper The Times reported on Saturday.
The Times reported that managers for McKinsey's UK offices could spend up to nine months searching for a job instead of working on client projects.
Besides continuing to receive their salary, managers would have access to McKinsey's resources and career-coaching services, per The Times. But staffers would still have to leave McKinsey even if their job hunt proved unsuccessful.
The offer has been extended to managers working at McKinsey's US offices, though the pay duration could be different, The Times said, citing people familiar with the situation.
A spokesperson for McKinsey did not confirm the specifics of The Times' reporting but told the outlet that the company's mission was to help staffers "grow into leaders, whether they stay at McKinsey or continue their careers elsewhere."
"These actions are part of our ongoing effort to ensure our performance management and development approach is as effective as possible, and to do so in a caring and supportive way," the spokesperson continued.
This wouldn't be the first time McKinsey has tried to trim its head count amid a slowdown in the consulting industry. The consulting giant last year said it would cut about 1,400 jobs, or about 3% of its staff, per Bloomberg.
In February, Bloomberg reported that McKinsey had given 3,000 employees poor performance ratings. The report said employees who received such ratings had about three months to improve their performance or they'd be "counseled to leave" McKinsey.
Bloomberg also reported last week that McKinsey told some senior employees they had only about 2 1/2 years to be promoted — amping up the pressure on staff to move up or out.
Representatives for McKinsey did not immediately respond to a request for comment from Business Insider sent outside regular business hours.