KUALA LUMPUR: PricewaterhouseCoopers (PwC) is set to reduce its United States workforce by approximately 1,500 roles, representing around 2% of its headcount in the country, the firm confirmed on Monday.
PwC, one of the Big Four accounting firms, employs over 75,000 people across the United States. The company cited historically low attrition rates in recent years as a contributing factor to the decision.
“This was a difficult decision, and we made it with care, thoughtfulness, and a deep awareness of its impact on our people,”
PwC stated.
“The sustained low levels of attrition over consecutive years made it necessary to take this step.”
The latest move comes amid broader efforts by PwC to reassess and streamline its operations globally. In April, the firm exited nine Sub-Saharan African markets following a strategic review.
Separately, last year, Reuters reported that PwC was considering reducing up to 50% of its financial services auditing staff in China due to a regulatory investigation and a decline in client activity.
PwC’s workforce changes follow similar restructuring moves by other Big Four firms. In November 2023, KPMG announced plans to cut nearly 4% of its US audit workforce, amounting to approximately 330 positions.
PwC operates as part of the Big Four alongside KPMG, Ernst & Young (EY), and Deloitte.
–Reuters
