<ul><li>Consulting firms, notably McKinsey, are intensifying efforts to trim their workforce, targeting underperforming employees amid sluggish growth.</li><li>McKinsey's recent mid-year performance reviews signal a return to formal grading, aiming to expedite exits. This shift contrasts sharply with the job market dynamics of the Great Resignation, as firms now struggle with historically low voluntary departures.</li><li>Financial incentives and layoffs characterize McKinsey's approach, reflecting a broader trend in the industry. With attrition rates plummeting, firms face challenges in maintaining their traditional "up or out" model, potentially impacting promotions and career advancement.</li></ul>

Consulting firms step up efforts to push out their low performers

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