PwC, formerly known as Price Waterhouse, is set to reduce its US workforce by approximately 1,500 positions, the Financial Times reported. This decision is a response to an extended period of unusually low staff turnover, the publication said citing a person familiar with the matter. The job cuts represent a 2% reduction in PwC’s US workforce, which stands at 75,000. These measures, impacting roles within the audit and tax sectors, are the culmination of a thorough business review process.
A PwC spokesperson said: “This was a difficult decision, and we made it with care, thoughtfulness and a deep awareness of its impact on our people, appreciating that historically low levels of attrition over consecutive years have made it necessary to take this step.” Employees were notified of the layoffs at the start of May, with many receiving invitations to urgent Microsoft Teams meetings.
Those laid off include many who recently joined PwC. “Some of us were up for promotion, but instead of a promotion and a pay bump we’re now getting cut off,” one of the affected staff members told the publication.
In addition to the layoffs, PwC is said to be scaling back campus recruitment efforts, although it will honour existing offers to last year’s interns. These strategic changes follow a previous round of layoffs, led by US senior partner Paul Griggs. In September 2024, Griggs reorganised PwC’s products and technology group, resulting in approximately 1,800 job cuts. The additional layoffs included more employees from that division. In April 2025, PwC ceased operations in more than a dozen countries deemed too small, risky, or unprofitable.
At the start of April, the company cut ties with ten member firms in Africa following disagreements.
The Big Four firms are said to be grappling with financial strains partly due to a decrease in advisory services demand following a post-pandemic surge. Deloitte and KPMG have also implemented staff reductions, with Deloitte focusing on its advisory business and KPMG reducing its audit division workforce by about 4%. A spokesperson for Deloitte said at the time that “overall demand for Deloitte’s services remains strong. We are taking modest personnel actions based on moderating growth in certain areas, our government clients’ evolving needs, and low levels of voluntary attrition.”
