PwC counts layoffs to 1,800 across advisory, products, and tech
The Journal reports that PricewaterhouseCoopers (PwC) is laying off about 1,800 employees in its first formal layoffs since 2009, affecting about 2.5% of its U.S. workforce. The cuts will primarily impact the firm’s U.S. advisory, products, and technology operations, with half occurring offshore. The firm plans to further integrate its products and technology teams into individual business lines and streamline processes. The layoffs come as PwC faces slowing demand in some advisory areas amid higher interest rates and weaker economic conditions, following a broader trend among professional services firms. PwC’s restructuring follows a recent leadership change, with Paul Griggs taking over as U.S. leader in May and initiating a structural overhaul.
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