Professional services giant PwC has announced plans to cut approximately PwC Lay Off 1,500 jobs in the United States, amounting to about 2% of its 75,000-strong workforce. The layoffs are concentrated in the audit and tax divisions and stem from an extended period of historically low staff turnover. A person familiar with the matter indicated that the decision was reached after a detailed internal business review.
A spokesperson for PwC acknowledged the significance of the move, stating, “This was a difficult decision, and we made it with care, thoughtfulness, and a deep awareness of its impact on our people.” The announcement was delivered to employees in early May, with many receiving sudden invitations to urgent Microsoft Teams meetings. Among those impacted are newer hires, including employees who were reportedly on track for promotions. One affected staff member shared, “Some of us were up for promotion, but instead of a promotion and a pay bump, we’re now getting cut off.”
Broader Organizational Changes and Hiring Strategy Adjustments
Alongside the PwC Lay Off is said to be scaling back its campus recruitment initiatives. However, the firm has committed to honoring employment offers extended to interns from the previous year. These changes come after a series of cost-control measures by PwC leadership, particularly under the direction of US senior partner Paul Griggs. In September 2024, Griggs led a restructuring of the firm’s products and technology group, which resulted in the elimination of approximately 1,800 positions. The current cuts are seen as an extension of that restructuring effort.
Additionally, PwC Lay Off has been re-evaluating its global footprint. In April 2025, the company shut down operations in over a dozen countries deemed financially unviable due to size, risk, or profitability concerns. This included severing ties with ten member firms across Africa due to internal disagreements. These moves reflect a more conservative strategic approach as the company navigates shifting global market conditions.
Big Four Firms Face Industry-Wide Headwinds
PwC is not alone in facing workforce reductions. Other members of the Big Four accounting firms—Deloitte, KPMG, and EY—are also managing staff numbers in response to a cooling advisory market. Deloitte has made selective cuts within its advisory division, though it maintains that demand for its services remains strong. A Deloitte spokesperson noted that recent personnel changes were influenced by slower growth, evolving needs among government clients, and continued low levels of voluntary attrition.
Similarly, KPMG recently reduced its audit workforce by about 4%, aligning its staffing with reduced business volumes. The consulting sector, which experienced rapid growth in the immediate aftermath of the COVID-19 pandemic, is now seeing a period of adjustment as demand normalizes. For PwC and its peers, these layoffs mark a shift toward more streamlined operations in an increasingly competitive and cost-conscious environment.