PwC to Lay Off Eight Percent of Workforce

Posted by accountingweb on Apr 11 2001 130 printer friendly

Remember when the term "lay off" meant a temporary hiatus, and eventually you would get your job back? Those days are gone. Get laid off today and you're looking for a new job. That's what is about to happen to approximately 750 to 1,000 consultancy workers at U.S. offices of PricewaterhouseCoopers, the world's largest accounting and consultancy practice, as the firm strives to respond to an economic downturn.

The news of the firings came to PwC employees in an e-mail message, which explained that the current economic climate was responsible for a slowing down of planned consultancy services. "The impact of a softening economy is hitting our clients hard," said the e-mail, which was written by the head of the firm's Midwest business unit, who was not identified.

The e-mail message explained that employees selected for lay offs would be "counseled out" later this month.

Voice of the Editor

What would you do if one of your clients won the lottery? We asked several accountants to weigh in with their advice for the lucky Powerball winner, and the tips we received are useful for anyone who receives a windfall, whether it's a lottery win, an inheritance, a big bonus on the job, or a killing in the stock market.

This Week on AccountingWEB

CPAs Mira Finé, Scott Hitchcock, Rob Keasal, Kathy Scorcio, and Ken Travis offer ten pieces of financial advice for the newest Powerball winner.

Hang Bower of BDO USA and Dan Black of Ernst & Young share their perspectives on why their firms made the Best Places to Work for Recent Grads 2013 list.

Herbein + Company, Inc. firm members talked with AccountingWEB about their year-round employee wellness program.

Bill Walter of Gross, Mendelsohn & Associates and Harold Gaar of TravisWolff LLP weigh in on mobile technology use while employees are at work.