PwC is laying off about 1,500 employees from its US workforce of 75,000, marking a 2% reduction due to historically low attrition. The layoffs mainly affect audit and tax divisions. The decision follows careful consideration and aims to realign the firm with market conditions. Current hiring and internship offers will be honored, but PwC is also slowing future recruitment efforts. Deanna Byrne, the US assurance leader, described the layoffs as an "incredibly tough" moment for the firm and its employees.
"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."
"This decision follows a long period of close review - along with actively supporting internal mobility and moving talent to support growth areas. But with historically low attrition and continued market shifts, this is a necessary step to better align our firm for the future."
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