By Peter Omopo
Global accounting giant PricewaterhouseCoopers (PwC) has announced plans to lay off approximately 1,500 employees in the United States, citing historically low attrition rates as a key reason behind the move.
A spokesperson for the firm confirmed the development to Reuters on Monday, noting that the layoffs represent about 2% of PwC’s U.S. workforce, which currently exceeds 75,000 employees.
“This was a difficult decision, and we made it with care, thoughtfulness, and a deep awareness of its impact on our people,” PwC stated. “Historically low levels of attrition over consecutive years have made it necessary to take this step.”
The U.S. layoffs follow a series of international cutbacks by the firm in response to shifting global business dynamics. Just last month, PwC announced the closure of its operations in nine Sub-Saharan African countries following a strategic review. The affected countries include Ivory Coast, Gabon, Cameroon, Madagascar, Senegal, the Democratic Republic of Congo, Republic of Congo, Republic of Guinea, and Equatorial Guinea.
In 2023, reports also emerged that the firm was considering significant staff reductions in its financial services auditing division in China amid regulatory scrutiny and a loss of key clients.
The latest round of U.S. layoffs highlights the firm’s efforts to recalibrate its global workforce and streamline operations in response to changing market conditions and internal workforce dynamics.
