PwC Cuts 1,500 U.S. Jobs Amid Low Attrition

PwC, one of the Big Four accounting firms, is laying off approximately 1,500 employees in the United States, representing about 2% of its 75,000-person workforce. The layoffs primarily affect staff in the audit and tax divisions and are attributed to historically low staff turnover and a slowing pace of growth in some areas. Despite earlier attempts to reassign employees to higher-growth units, low attrition rates necessitated the cuts. Affected employees were notified via time-sensitive Microsoft Teams invitations, with some expressing surprise and disappointment at the unexpected layoffs. PwC is also scaling back campus recruitment but will honor job offers already extended to former interns. This is the second major round of job cuts under U.S. senior partner Paul Griggs, amid broader industry trends as other Big Four firms like Deloitte and KPMG also make staffing reductions.