PwC is set to cut around 2% of its U.S. workforce—approximately 1,500 employees—primarily in its audit and tax divisions, according to a report from the Financial Times. The layoffs are part of a broader strategic restructuring in response to persistently low staff turnover and slower-than-expected growth in the consulting arm.
The move comes after a months-long internal review aimed at simplifying the firm's organizational structure. The cuts affect roughly 2% of PwC’s 75,000 employees in the U.S.
“This was a difficult decision, and we made it with care, thoughtfulness, and a deep awareness of its impact on our people,” the company said in a statement. “Historically low levels of attrition over consecutive years have made it necessary to take this step.”
Impacted employees were notified through Microsoft Teams invitations marked “time sensitive.”
Some of those laid off had only recently joined the firm. “Everyone was completely blindsided by the lay-offs today,” said one employee who started at PwC in September.