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.

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