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‘We Will Starve’; PwC Staff Outrage at Rumoured Mass Partner Retirements
Posted by The Spy | Posted in Firm Gossip, PriceWaterhouseCoopers | Posted on 9.15am
As reported in today’s Finacial Review against the wishes of the PwC partnership:
…it is understood between 40 and 50 partners were given the option [of a payout] to leave the firm before June 30 or remain in their position to tough out the downturn… PwC spokesperson Danielle Hinwood… said retirement arrangements were an ongiong issue… The number of those asked to consider exiting represents about 10 per cent of its partnership… compensation … was understood to be between six and 12 months’ pay.
A PwC spy had the following statement about these revelations:
Barely a week goes by without some form of devastating news from management. I have never worked in a more anxiety-inducing environment in my life and doubt I ever will. If today’s rumours about mass partner retirements are true, it will certainly mean third and fourth waves of redundancies…we will be starved of work… To any graduate contemplating a future with PwC, think twice about whether you deserve a working life like this…
To date, PwC has made a first and second wave of redundancies, deferred graduate start dates, and underhandedly frozen staff pay.
Do you think PwC staff are entitled to expect better treatment from their employer?
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This is utter nonsense, I don’t believe that this website allows such misinformation to be published. We at PWC are doing everything possible to save jobs and create a positive work environment.
Tim, thanks for clarifying. The Firm Spy does not publish
“misinformation”, and hopes not to be passing on reports of further PwC job cuts any time soon. Hopefully the employee who sent in the above report is as comforted as we are.