Following news we reported a couple of weeks ago that PwC is poised to make further job cuts, we received the following interesting tip from an anonymous PwC spy yesterday:
PwC is at it again! Following a very serious meeting last week, I was told ‘now is time to start looking for another job’ along with same, tired lines that the GFC is hurting the fim on revenue, yaddayaddayadda! I have heard that I am not alone and that others have been told to ‘start looking’.
If true, it seems that PwC is taking a more cunning approach to the reduction of headcount compared with its double-wave of redundancies before and after Christmas last year. This would be an excellent way to avoid the PR fall-out accompanying sackings. But would workers be justified in having hositlity toward partners who promised them earlier in the year that if they took 3 weeks leave without pay there would be no further job losses?
Quick, let’s get our favourite PWC PR foot-soldier Sharon Bell on the phone!
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Also a wonderful way to avoid redundancy payments. Get the personnel to find a new job and resign prior to having to make them redundant.
This was allways going to happen, line the partners pockets,
Get rid of the people that support them to make thier money and not care at all about the implications of thier greedy action are doing to the staff.
VERY one sided view here…partners at PwC also took SIGNIFICANT cuts in their salary – based on their performance. Perhaps some thought could go to the fact that many (sure not all) but many of them have done their time working their butts off, brought in the money and the client leads to feed the troops and yet this seems to be forgotten in heated moments when business is down and CUTS NEED TO BE MADE. PWC is a competitive organisation in a highly competitive market! HTFU! The comments reek of whinning and ‘poor me’.
Yes – the comments are POOR me (see I can use caps lock too) because you make no money if you work at PwC
Hey Mish
Just wondering how PwC partners could have taken “SIGNIFICANT” cuts in their salary when revenue grew 1.1% over the year (http://firmspy.com/firm-gossip/2000/brw-top-100-accounting-firms-big-4-partner-revenue-statistics) and costs have been slashed on the back of several waves of redundancies, wage freezes and supposed optional leaves of absences?
I also work at PwC and have heard rumblings about further cuts. In the last few weeks we have lost the chocolate biscuits on all floors in the Sydney office.
The latest Pulse (staff survey) should be very interesting — I’d say reflecting the terrible morale and negative feeling in the firm generally.
Can PwC get any worse??? maybe it is time to look somewhere else?
Not to mention the recently changed ‘CA’ policy. There are a lot of extremely pissed of employees at PwC feeling a little bit like indentured slaves that get dictated everything. How much their pay cut is. To take ‘flexible’ leave. That there is no overtime system anymore (not that TOIL was awesome, but at least it was something). now CA. This firm just does not stop – graduates stay away and make sure you ask questions about how long your are locked in for if you want to do CA! PwC can now fire you if you fail 2 subjects. It’s all under the ‘policy’. Payraises were so bad this year that 2nd year accountants are only being paid $1k more than 1st years.
Hey Mish – you must be a partner at PwC! Only a Partner could actually defend PwC and their outsourcing of American jobs in this economy. Working at PwC means being among some of the poorest paid professionals in the country. They claim they are not laying people off, but instead they are shoving them out the door with poor wages and even poorer benefits. The Leadership at PwC is interested in only one thing; keeping their 7-figure salaries at all costs.