McKinsey Layoffs: Your Rights and Severance Pay Explained
Facing a layoff at McKinsey? Know your options
McKinsey & Company (McKinsey) is a global management consulting firm headquartered in New York City.
Founded in 1926, it is the oldest of the “Big Three” consulting firms, alongside Boston Consulting Group and Bain & Company. McKinsey advises clients across sectors, including corporations, governments (such as the Government of Canada), and non-profit organizations, on strategy, operations, finance, and digital transformation.
The firm opened its Toronto office in 1968 and now operates in Montreal, Calgary, and Vancouver, employing more than 650 people in Canada. Globally, McKinsey has over 45,000 employees in more than 65 countries.
Your rights as a non-unionized employee
The consulting industry comes with unique dynamics that can affect employees during a layoff. If you’ve been let go from McKinsey, it’s critical to review your employment agreement carefully.
We’re here to support your next steps
Losing your job is more than just a financial setback—it’s a major change that can impact your career trajectory and personal confidence.
This guide is here to provide clarity and empower you during this transition.
We’ll outline your severance rights, explain what non-unionized employees are entitled to, and offer actionable steps to help you move forward and protect your future.
ℹ️ Wondering about your rights after losing your job? Watch the video below or check out the full episode in our TV section.
5 steps to take if you’ve been laid off by McKinsey
1️⃣ Don’t sign anything immediately: Take your time to review all termination documents carefully. Speak with a lawyer before signing anything to ensure you’re fully informed and protected.
2️⃣ Document everything: Save copies of termination letters, severance offers, and correspondence with your employer for future reference.
3️⃣ Use our Severance Pay Calculator: Estimate what you’re owed with our Severance Pay Calculator. This quick step helps you understand your entitlements and plan your next move.
4️⃣ Get legal advice: Contact an employment lawyer at Samfiru Tumarkin LLP to ensure your severance package reflects your full rights.
5️⃣ Start exploring new opportunities: Update your resume and begin searching for new roles. Proactively seeking work not only boosts your career but also demonstrates your effort to find a new job, which is important in severance claims.
💡 Wrongfully dismissed? Our firm can review your situation and advise you of potential next steps in the event that you were wrongfully dismissed.
Severance pay facts for McKinsey employees
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How to calculate
Severance Pay can include up to 24 months’ pay. It’s based on factors like your length of service, age, position, and the current job market conditions. -
Additional factors
Severance can include more than a lump sum. Regular bonuses, commissions, and continued health or dental benefits should be part of your package, especially if they’re critical for ongoing care.
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Time limit
Your employer’s deadline to sign a severance offer isn’t legally binding. Take your time to review it and get legal advice. You have up to two years from your termination date to file a claim. -
Still owed severance
Severance often applies even when employers claim cause, misclassify you as a contractor, end a fixed-term contract early, or make major changes to your job.
McKinsey layoffs: Key dates and insights
McKinsey has announced several layoffs over recent years due to recessions, downsizing, restructuring, cost-cutting measures, and shifts in operational focus.
Below is a timeline of recent layoffs:
- May 2025: McKinsey confirms a 5,000-employee reduction over 18 months, citing performance management and attrition amid industry slowdown.
- April 2024: McKinsey is reportedly eliminating approximately 360 jobs as it grapples with a slowdown in demand.
- February 2023: McKinsey is laying off up to 2,000 employees globally. Affected roles may include human resources, technology, and communications.
When layoffs happen, we deliver results
Samfiru Tumarkin LLP specializes in resolving severance matters efficiently, ensuring clients get fair compensation without stepping into a courtroom. Nearly all cases are settled in our clients’ favour early, but when court is necessary, we have the expertise to deliver results—often with legal fees covered by the employer.
33 Years, a Payout to Sink Your Teeth Into
After decades of loyal service at an Ottawa dental practice, a hygienist refused unfair new terms following a sale. With Samfiru Tumarkin LLP by her side, she secured 24 months’ severance, benefits, and legal costs—proof that dedication deserves justice.
Short stint, huge statement
In Marques v. Delmar International, a high-level executive was shown the door after just eight months—but didn’t leave empty-handed. Thanks to Samfiru Tumarkin LLP, they secured a four-month severance, showing even short-term employees deserve big wins.
Big win for short-service executive
In Perretta v. Rand A Technology Corporation, a sales professional refused to settle for less when her employer tried to tie severance to an unfair release. With Samfiru Tumarkin LLP on her side, she walked away with six months of severance—a bold win.
Layoff FAQs
Do employment contracts affect severance?
Yes, an employment contract can affect your severance entitlements if it includes enforceable termination clauses. However, many of these clauses may be invalid for several reasons.
Are temporary layoffs legal?
Temporary layoffs for non-unionized employees are generally not permitted unless specifically allowed by an employment contract. Otherwise, a layoff may be treated as a termination through a constructive dismissal claim.
Am I entitled to severance as a contractor?
If your work closely resembles that of an employee—such as reporting to a manager, using company equipment, or working regular hours—you may qualify for severance even if classified as a contractor.
Should I negotiate my severance package?
To ensure that you receive the amount of compensation that you’re entitled to, let our lawyers in Ontario, Alberta, and British Columbia negotiate on your behalf.
Are severance deadlines legal?
Your employer’s deadline to accept a severance offer isn’t legally binding. You have up to two years from your termination date to file a claim for severance, so it’s important to review your offer carefully and seek legal advice before signing anything. You can also request a deadline extension.
Why choose Samfiru Tumarkin LLP?
At Samfiru Tumarkin LLP, we’ve helped over 50,000 clients secure fair severance packages—recovering millions of dollars for non-unionized employees across Canada.
With extensive experience representing workers in roles at small businesses and large organizations across various industries, our team provides the expertise you need to navigate your layoff effectively.
We specialize in assisting employees in Ontario, Alberta, and British Columbia—ensuring their rights are fully protected.
In addition to employment law, our firm handles disability claims and personal injury cases.
Get help today!
Contact Samfiru Tumarkin LLP to get the compensation you’re entitled to. Call 1-855-821-5900 or request a consultation online.
⛔ UNIONIZED? You must consult your union representative regarding termination, severance pay, and other workplace issues. These matters are governed by your collective bargaining agreement. By law, employment lawyers can’t represent unionized employees with these issues.
Key resources for McKinsey employees
- Severance for provincially regulated employees
- Severance pay by company
- Severance packages in mass layoffs
- Termination for cause: Why severance may still be owed
- Wrongful Dismissal: What it is and how to respond
- Employment rights when a business closes
Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and should not be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.
About the Author
Lior Samfiru
Lior Samfiru is a Founding Partner at Samfiru Tumarkin LLP and the Practice Leader of the firm’s Labour & Employment Law Group. Known for his advocacy and success representing both employees and employers, Lior exclusively serves clients in Ontario, where his extensive experience has made him one of Canada’s most sought-after employment lawyers.
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