PwC to cut 400 jobs

ACCOUNTING firm PwC will cut 400 roles in its consulting and financial advisory business, as well as its support function, after the pandemic cut demand for the big four firm's services.
PwC to cut 400 jobs PwC to cut 400 jobs PwC to cut 400 jobs PwC to cut 400 jobs PwC to cut 400 jobs

Staff Reporter

The Australian Financial Review reported that staff were told about the cuts, which work out to about 5% of PwC's 8000-strong workforce, at a firm-wide meeting this week.
 
PwC has a substantial presence in Papua New Guinea.
 
The move will involve partner retirements and staff redundancies but the firm did not specify the breakdown between the groups.
 
The move to cut staff comes two weeks ahead of the end of PwC's "reduced working week program" under which the pay and hours of underused staff was cut by at least 20% since mid-April - a 4% annualised reduction.
 
At the time, staff were told the move was designed to "protect jobs and not make people redundant".
 
Staff on the reduced working week will receive redundancy entitlements based on their regular, full-time pay.

 

topics

loader
  • Top News: Digicel files for bankruptcy. Read more.
  • Top News: Porgera: Barrick-PNG talks go on. Read more.
  • Top News: PNG banks 'face huge risks'. Read more.