Firings of 1,500 employees at PwC firm in country occur.
Chopping 1500 Jobs at PwC USA: Audit and Tax Divisions Hit 📈
Hey there! Guess who's making some difficult decisions? None other than PwC, the multinational professional services network. The Financial Times just spilled the beans—PwC is culling around 2% of their US workforce, which isApprox 1,500 employees out of 75,000. Ouch! ouch! 😵
The main casualties? The audit and tax divisions. Alas, it's not the first rodeo for PwC senior partner Paul Griggs—he previously orchestrated a reshuffle in September, chopping 1,800 jobs in the product and technology division.
So, what's the beef? Well, it seems like this round of layoffs is a combination of low employee turnover, shifting business demands, and adjusted recruitment strategies. That's like a terrible three-strikeout in a ballgame! 🏺
Apparently, historically low staff attrition rates have left a swelling workforce that needsadjusting. PwC also needs to adapt to new industry circumstances and the automation of roles, which means lower demands for specific positions. Not to mention, the firm is cutting back on campus hiring—whoa, those recruitment strategies are changing! 🌪️
Despite taking a hit, PwC is not leaving last year's interns high and dry. They're honoring existing job offers and staying committed to their future workforce. Other Big Four firms, such as Deloitte and KPMG, are also feeling the heat and making adjustments too.
In conclusion, PwC is adopting a leaner workforce by trimming away the fat in their audit and tax divisions, due to a cocktail of factors. As the saying goes, it's a tough business world out there, and you gotta make some tough choices. 🎯💪💸
- The majority of the job cuts announced by PwC, about 1,500 employees, are expected to come from the audit and tax divisions.
- PwC's recent layoffs, primarily affecting the finance and business sectors, are a response to low employee turnover, shifting business demands, and altered recruitment strategies.
- In a similar move last year, PwC's senior partner, Paul Griggs, led a reshuffle that resulted in the reduction of almost 1,800 jobs in the product and technology division.
- Despite these layoffs, PwC has guaranteed job offers to the interns they accepted last year, demonstrating their commitment to their future workforce.
