PricewaterhouseCoopers dismiss around 1,500 employees in the United States, marking a significant reduction in one of the four large accounting firms while it fights with low turnover and stagnant market conditions.
Cups, which represent around 3% of the 75,000 US Effective PWC, are mainly concentrated in the company’s audit and tax divisions.
The decision followed an internal examination of several months of commercial needs, according to Financial Times.
It also occurs after the company has already reassured hundreds of employees to internal roles in higher growth areas in order to delay a more drastic action.
“It was a difficult decision, and we did it carefully, reflection and a deep awareness of its impact on our people, appreciating that historically low levels of attrition during the consecutive years made this stage necessary,” the firm said in a press release.
Employees affected by layoffs were informed on Monday and Tuesday, hundreds having been invited to a meeting of Microsoft teams before receiving departure details by e-mail.
The suddenness of the decision has left many blind.
“From what I had seen informally, we had very recently hired,” said a PWC employee who was not dismissed in Financial Times. “In previous years, someone has been blinded like that has obtained a lot of help.”
“The company seems to try to get rid of people, but instead of helping perception,” we are going to cut, “said another employee.
Internally, some employees have accused the company of poor transparency, noting that hiring had been reduced long before the decline in turnover, but wages were still budgeted for subordinate employees who were ultimately deemed unnecessary.
The layoffs are involved in the middle of increasing pressure in the large four, as companies are facing reduced attrition rates and a more difficult economic environment.
The four large accounting firms – Deloitte, PwC, EY and KPMG – are the world’s largest networks providing audit, tax and consulting services, serving most of the fortune companies 500.
Staff members who could have previously left voluntarily due to professional exhaustion or disillusionment are now in place, exacerbating the challenge of managing the workforce and payroll expenses.
This led companies to make more aggressive cuts.
Compared to the past movements of competitors, PWC cuts are less serious, but always reflect a tendency in industry.
In September, KPMG reduced 5% of its American workforce, citing economic weakness and overcapacity.
Deloitte and Ey also made discounts earlier in the year.
Deloitte, for example, told staff last month that no additional layoff was scheduled for 2025, despite current endowment assessments.
“The overall demand for the Deloitte services remains solid,” said the firm following the internal call.
“We will continue to examine the levels of personnel alignment on the evolution of demand.”
KPMG, which was also affected by unusually low attrition rates, told its American and British staff that he “tackles continuous attrition levels”.
Analysts claim that layoffs highlight a broader challenge faced by professional service companies, many of which still adapt to the post-pandemic work landscape and less predictable sources of income.
Although hybrid work has become the norm, market volatility and fewer resignations have disrupted traditional labor planning models.
With growing concerns about efficiency and profitability, PWC job cuts are probably not the last of the four large ones while businesses are trying to recalibrate into a slow -evolving commercial climate.
