PricewaterhouseCoopers to Cut Partners | AccountingWEB

PricewaterhouseCoopers to Cut Partners

Big 5 firm PricewaterhouseCoopers is to axe one in ten partners as part of cost-cutting measures, according to reports in the British newspaper, the Sunday Times.

The alleged staff cuts come after the PwC's failure to sell off its consultancy arm to Hewlett-Packard in November, and could form part of the firm's current restructuring plans.

A spokesperson said that the firm would not comment on "speculation." But if the Sunday Times report is true, up to 200 partners could be asked to resign on two years pay.

Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.