Investing.com-- PwC is cutting around 1,500 jobs in the U.S., or roughly 2% of its 75,000-strong workforce, amid ongoing pressure from historically low staff turnover, the Financial Times reported on Monday, citing people familiar with the matter.
The layoffs, which primarily impact the firm’s audit and tax divisions, come after months of internal review and follow a prior effort to reassign staff from slower-growing areas to higher-demand units, the report said.
Some affected employees were notified via time-sensitive Microsoft (NASDAQ:MSFT) Teams meeting invitations on Monday and Tuesday, according to the FT report.
The firm also plans to scale back campus hiring but will honor offers extended to last year’s interns, the report stated.
This marks the second round of job cuts under U.S. senior partner Paul Griggs, who previously oversaw a restructuring in the products and technology division last year that led to 1,800 layoffs, the report added.
Other Big Four firms, including Deloitte and KPMG, have also trimmed U.S. staff in recent months.