PwC Layoffs to Slash 1,500 U.S. Jobs Amid Low Attrition and Industry Slowdown
PricewaterhouseCoopers (PwC) is laying off approximately 1,500 employees in the United States, representing about 2% of its 75,000-strong U.S. workforce. The layoffs primarily affect the audit, tax, and products & technology divisions.
The firm attributes these new layoffs to historically low attrition rates and a need to realign resources amid changing market conditions. Deanna Byrne, PwC’s U.S. assurance leader, explained in an internal email that despite efforts to support internal mobility, the firm needed to act due to slow attrition and shifting market demands.
This marks the second major layoff under U.S. Senior Partner Paul Griggs, who previously cut 1,800 jobs from the products and technology group in September 2024. The decision follows a comprehensive review of the business and is attributed to historically low attrition rates that have led to staffing surpluses.
Some of those affected had only recently joined the firm or were expecting promotions, making the news particularly unexpected.
- Notifications were delivered via Microsoft Teams invites labeled "time sensitive." The firm will also scale back campus hiring but will honor existing intern offers.
The layoffs reflect broader industry trends, where other Big Four firms—Deloitte, EY, and KPMG—have also implemented job cuts due to overcapacity and lower attrition. KPMG and Deloitte reduced their workforces earlier, with KPMG cutting 5% of its U.S. employees.
Analysts attribute these measures to post-pandemic shifts, market volatility, and changing workforce dynamics, which have disrupted traditional planning and prompted more aggressive staffing adjustments.
PwC's actions underscore the growing pressure on major accounting firms to manage costs and remain efficient amid uncertain market conditions.
