PWC Second Wave of Redundancies; PriceWaterhouseCoopers ‘Not Immune’ to GFC

As was predicted rightly by the Firm Spy in the wake of graduate deferrals, it has been announced today that global

accounting giant PriceWaterhouseCoopers has made a second wave of employee redundancies. Adding to the redundancies in November last year, a total of 170 workers have now been laid off from PWC.

A spokesperson for the accounting firm remarked:

‘In light of the current economic turmoil and continuing response by our clients to reduce their costs, we too have had to make the hard decision to reduce our staffing levels. PricewaterhouseCoopers is not immune to the impacts of the slowing economic environment. As a result 170 people across the firm have been made redundant. We have not taken this decision lightly and the firm is providing the affected people with counselling and support to transition through this difficult period.’

Those workers who are now jobless in a tightening job market are no doubt sickened by the fact that PriceWaterhouseCoopers posted revenue last financial year of $28 billion.

Do you think PWC could have afforded to keep these sacked employees? Send us your comments and news!