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Introduction: When McKinsey Comes to Town
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terms
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notes
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The layoffs and safety concerns did not dissuade U.S. Steel from going forward with its plan to issue 21.7 million new shares of stock. This special stock offering, which raised $482 million, occurred in August, the same month the union accused the company of gutting its maintenance department. Angry over safety issues, the union on August 26 led a protest march to U.S. Steel’s main gate in Gary. Normally union protests occur only during contract negotiations. Workers chanted, “McKinsey sucks! McKinsey sucks!” Union members carried signs that drove home their sentiment:
“Hello Mario! McKinsey must go.”
“McKinsey stole.”
“McKinsey = contract violations.”
“Union yes, McKinsey no.”
“McKinsey steals.”
“Give McKinsey the (picture of a boot).”
the signs are helpful imagery
The layoffs and safety concerns did not dissuade U.S. Steel from going forward with its plan to issue 21.7 million new shares of stock. This special stock offering, which raised $482 million, occurred in August, the same month the union accused the company of gutting its maintenance department. Angry over safety issues, the union on August 26 led a protest march to U.S. Steel’s main gate in Gary. Normally union protests occur only during contract negotiations. Workers chanted, “McKinsey sucks! McKinsey sucks!” Union members carried signs that drove home their sentiment:
“Hello Mario! McKinsey must go.”
“McKinsey stole.”
“McKinsey = contract violations.”
“Union yes, McKinsey no.”
“McKinsey steals.”
“Give McKinsey the (picture of a boot).”
the signs are helpful imagery
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U.S. Steel regrouped and in 2018 created a new plan and a new slogan.
“Underlying our efforts,” the company wrote, “is our belief that we must operate as a principled company committed to a code of conduct that is rooted in our Gary Principles and our core values.” Those core values are “articulated in our S.T.E.E.L. principles…: Safety First, Trust and Respect, Environmentally Friendly Activities, Ethical Behavior, and Lawful Business Conduct.”
S.T.E.E.L.—with a dash of Ayn Rand. As a Christmas present, the company’s new chief executive, David Burritt, gave the former union official Billy McCall a surprise gift—the book Atlas Shrugged. “This is the philosophy right now,” McCall said in an interview. “This is corporate philosophy, for crying out loud.”
lmao. good pano inspo
U.S. Steel regrouped and in 2018 created a new plan and a new slogan.
“Underlying our efforts,” the company wrote, “is our belief that we must operate as a principled company committed to a code of conduct that is rooted in our Gary Principles and our core values.” Those core values are “articulated in our S.T.E.E.L. principles…: Safety First, Trust and Respect, Environmentally Friendly Activities, Ethical Behavior, and Lawful Business Conduct.”
S.T.E.E.L.—with a dash of Ayn Rand. As a Christmas present, the company’s new chief executive, David Burritt, gave the former union official Billy McCall a surprise gift—the book Atlas Shrugged. “This is the philosophy right now,” McCall said in an interview. “This is corporate philosophy, for crying out loud.”
lmao. good pano inspo
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At Disneyland, though, the process evolved primarily into a mandate to cut expenses. Using terms like “cost avoidance,” McKinsey recommended cutting back on park maintenance, eliminating jobs, paying some people less, and hiring outside contractors. In a broadly unpopular move, most maintenance workers were transferred to the overnight, or graveyard, shift. To deal with the shock of such a sudden move, McKinsey recommended bringing in counselors to address issues of sleep, nutrition, and relationships. Each overnight worker would also receive a one-year subscription to the Working Nights newsletter.
no way
At Disneyland, though, the process evolved primarily into a mandate to cut expenses. Using terms like “cost avoidance,” McKinsey recommended cutting back on park maintenance, eliminating jobs, paying some people less, and hiring outside contractors. In a broadly unpopular move, most maintenance workers were transferred to the overnight, or graveyard, shift. To deal with the shock of such a sudden move, McKinsey recommended bringing in counselors to address issues of sleep, nutrition, and relationships. Each overnight worker would also receive a one-year subscription to the Working Nights newsletter.
no way