PwC Faces More Staff Cuts, Restructures Workforce

Not long after announcing cuts of approximately 1,000 members of the consultancy staff at U.S. PwC locations, the firm is back in the news with more pink slips. This time, it's the back office functions - mailroom and clerical jobs - that are being reduced.

The work required of these positions is not being cut, but the people remaining on the jobs will have consolidated responsibilities. The mail and clerical functions are being reorganized into a new division called "shared services," according to the division's new head, Eugene Donnelly, who has recently been appointed CFO of PwC in the states.

The new method of streamlining this work entails an internal reorganization whereby mail and clerical functions are to be performed by lines of service, such as assurance, tax, consulting, and so on.

Employees who are leaving the workforce will receive "the normal severance package, which includes outplacement assistance," according to Mr. Donnelly. Those employees who remain will find, not an increased workload, but "more efficient redistributions of the work."

You may like these other stories...

Here's a CPA who truly walks the walk. On March 15, Frank Ryan, CPA, departed San Diego, California, with plans to be in Ocean City, Maryland, by July 2 to teach a course at the Maryland Association of CPAs’ (MACPA...
When Theodore J. Flynn first joined the Massachusetts Society of CPAs (MSCPA) in 1970, it was a different world and a different profession.  The "Big Eight" were still headquartered in Boston. Vietnam War...
Accountant Rickey Charles Goodrich had it a little too good. Many bean counters would kill to serve as financial guru to the likes of Pearl Jam. Goodrich was hired in 2005, and the following year, he became the CFO of Curtis...

Upcoming CPE Webinars

Jul 23
We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.
Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.