PricewaterhouseCoopers
or PwC is mulling to axe around 600 jobs in UK as the accounting company is hit
by “lower than normal attrition rates and subdued growth in parts of the
business,” said the company.
The company, one
of the Big Four accounting firms, will make targeted voluntary severance offers
to some of the employee. However, it didn’t disclose the number of people that
would be impacted by the move.
Reportedly, PwC
would launch a voluntary redundancy programme but cut jobs on a compulsory
basis if not enough people choose to leave.
It said staff accepting
voluntary severance will get a more generous package than in a compulsory
redundancy.
The job cuts will
be directed mainly at PwC’s advisory business and a small number in the tax
department. The audit division would not be hit.
Earlier, in
November KPMG, another one of the Big Four accounting firms apart from Deloitte
and EY, was planning to axe about 100 jobs in its deal advisory business in UK.
Deloitte is also planning to cut more than 800 jobs in UK.
A number of
businesses have reduced their workforce in recent times speculating a likely
economic slowdown later in the year.
NE Watch Desk With
Reuters/ Financial Times Inputs
