Friday, 10 Oct 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • 🔥
  • Trump
  • VIDEO
  • House
  • White
  • ScienceAlert
  • Trumps
  • Watch
  • man
  • Health
  • Season
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > Economy > Big Four accounting firm PwC to slash 1,500 US jobs
Economy

Big Four accounting firm PwC to slash 1,500 US jobs

Last updated: May 5, 2025 6:50 pm
Share
Big Four accounting firm PwC to slash 1,500 US jobs
SHARE

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

PwC is laying off about 1,500 employees in the US, becoming the latest Big Four firm to make cuts in the wake of historically low staff turnover.

The lay-offs amount to 2 per cent of PwC US’s 75,000 workforce and were concentrated mainly in its audit and tax businesses, according to people familiar with the matter.

The job cuts were the result of a months-long process of examining the business, according to one person familiar with the decision, and came after PwC had previously moved hundreds of US staff from unneeded posts to higher-growth units.

“This was a difficult decision, and we made it with care, thoughtfulness and a deep awareness of its impact on our people, appreciating that historically low levels of attrition over consecutive years have made it necessary to take this step,” a PwC spokesperson said.

Affected staff were being told on Monday and Tuesday this week, the people said. Hundreds were alerted by a Microsoft Teams meeting invite sent to their email marked “time sensitive”.

Those laid off included many who had only recently joined PwC. One person who started in September told the Financial Times they were “devastated”. “Everyone was completely blindsided by the lay-offs today,” the person said. Another person affected said: “Some of us were up for promotion, but instead of a promotion and a pay bump we’re now getting cut off.”

The firm has also decided to curtail campus hiring due to lower staff turnover, but would stand by offers it had already made to last year’s interns, who are scheduled to join later this year, the person said.

See also  13 jobs that don't require a college degree -- and won't be replaced by AI

The new round of lay-offs is the second ordered by US senior partner Paul Griggs since he took the helm a year ago. In September, he restructured PwC’s products and technology group with the loss of about 1,800 jobs. Some of the additional lay-offs conducted on Monday included more staff from that division.

Low staff turnover has compounded financial pressures on the Big Four firms, which hire tens of thousands of new graduates each year across the US. The advisory arms of their businesses have slowed sharply since a post-pandemic boom in technology consulting work and a hoped-for increase in mergers and acquisitions work this year has been derailed by stock market turmoil.

A month ago, Deloitte executives told staff on an internal call that the group would be laying off staff across its advisory business, including in the government contracting unit affected by the cost-cutting drive of Elon Musk’s so-called department of government efficiency.

“Overall demand for Deloitte’s services remains strong,” a spokesperson for the firm said at the time. “We are taking modest personnel actions based on moderating growth in certain areas, our government clients’ evolving needs, and low levels of voluntary attrition.”

KPMG also cut staff in the US in November, The Wall Street Journal reported, totalling 330 people, or about 4 per cent of its audit division workforce. The firm said it was “addressing continued low levels of attrition.”

TAGGED:accountingbigFirmJobsPwCslash
Share This Article
Twitter Email Copy Link Print
Previous Article Shingles vaccine linked with lower risk of many common heart problems Shingles vaccine linked with lower risk of many common heart problems
Next Article Kim Kardashian Gets Ready for Met Gala With North West, Flaunts Jewelry Kim Kardashian Gets Ready for Met Gala With North West, Flaunts Jewelry
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

Capitals expose glaring hole in Canadiens squad in Game 1 OT win, Habs have one solution sitting on the bench

The Montreal Canadiens faced a tough loss in Game 1 against the Washington Capitals, falling…

April 21, 2025

‘Fordow is gone’: US launches strikes on Iran

President Donald Trump announced on Saturday that US forces had carried out a successful attack…

June 21, 2025

’90 Day Fiancé’ Stars Sarper & Shekinah Talk ‘Bedding’ Wedding Ceremony

'90 Day Fiancé' We Love Being In Bed ... So We Had a 'Bedding'!!! Published…

June 16, 2025

Ex-NFL Star Rudi Johnson Dead At 45

Tragic Passing of Ex-NFL Star Rudi Johnson At Just 45 Years Published September 23, 2025…

September 24, 2025

Alibaba’s ‘ZeroSearch’ lets AI learn to google itself — slashing training costs by 88 percent

Alibaba Group researchers have unveiled a groundbreaking approach called ZeroSearch that could revolutionize the way…

May 11, 2025

You Might Also Like

Why Is Wolfspeed Stock Soaring Today?
Economy

Why Is Wolfspeed Stock Soaring Today?

October 10, 2025
When Godzilla Breaks Windows
Economy

When Godzilla Breaks Windows

October 10, 2025
Peter Schiff Describes Bitcoin’s Jump Over 6,000 As ‘Bear Market Rally’: ‘Too Early For Bitcoiners To Get Excited…’
Economy

Peter Schiff Describes Bitcoin’s Jump Over $126,000 As ‘Bear Market Rally’: ‘Too Early For Bitcoiners To Get Excited…’

October 10, 2025
Veteran analyst drops sharp take on GTA 6 hype
Economy

Veteran analyst drops sharp take on GTA 6 hype

October 10, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?