PwC Lays Off 1,500 Employees

In a surprising turn of events, PricewaterhouseCoopers (PwC), one of the world’s leading auditing and consulting firms, has announced layoffs affecting approximately 1,500 employees in the United States. This move comes as part of a broader trend among major accounting firms responding to changing market conditions and business needs.

May 6, 2025

Why Did PwC Lay Off Employees?

The layoffs are primarily attributed to a combination of internal and external factors. Over the past few years, PwC experienced unusually low employee attrition, meaning fewer people left the company than usual. This resulted in a workforce that outpaced the firm’s current operational needs, especially in its audit and tax divisions. Additionally, shifting client demands and economic pressures have led to a reevaluation of staffing requirements.

PwC is reducing its U.S. workforce by about 2%, which translates to around 1,500 job cuts out of approximately 75,000 employees. These reductions mainly impact employees in the audit and tax departments.

In a statement, the company said: “This was a difficult decision, and we made it with care, thoughtfulness and a deep awareness of its impact on our people. We recognize that unusually low attrition over the last few years made this step necessary.”

 

About PwC

PwC, or PricewaterhouseCoopers, is one of the “Big Four” accounting firms, alongside Deloitte, Ernst & Young (EY), and KPMG. It offers professional services including audit and assurance, consulting, and tax advisory. With a global presence in over 150 countries and a workforce exceeding 300,000, PwC plays a crucial role in helping businesses manage risks, improve performance, and meet regulatory requirements.

Frequently Asked Questions (FAQs)

What is PwC?

• PwC (PricewaterhouseCoopers) is one of the largest professional services networks in the world, providing audit, tax, and consulting services to clients across the globe.

How many employees is PwC laying off?

• PWC is laying off around 1,500 employees, which is approximately 2% of its U.S. workforce.

Which departments are most affected?

• The layoffs primarily affect the audit and tax divisions.

Why is PwC making these layoffs now?

• Due to historically low attrition rates in recent years and changing business demands, PwC has more staff than it currently needs, prompting the layoffs.

Are these layoffs part of a larger trend in the accounting industry?

• Yes, other Big Four firms have also recently made job cuts, reflecting broader changes in the market and evolving client needs.