PwC US to fire 1800 jobs in first restructuring measure in 15 years

It is the first set of major resignations the company is planning since 2009.

The company is reportedly planning to take restructuring measures.

The Big Four accounting firm is in the process of cutting employees in the U.S. and elsewhere, primarily in its U.S. advisory and products and technology operations, according to people familiar with the matter as reported by Wall Street Journal.

The cuts, about half of which are offshore, span employees ranging from associates to managing directors and include business services, audit and tax, the people said.

PwC plans to notify those affected, roughly 2.5% of the workforce at the U.S. unit, in October, the people said.

According to the Wall Street Journal, the company announced its layoff plans and restructuring measures in a memo to US staff.

“There will be an element of resource action that will impact a relatively small proportion of our people, something that is never easy,” Paul Griggs, PwC’s U.S. leader, said in the memo as quoted by the newspaper.

“Ultimately, we are positioning our firm for the future, creating capacity to invest, and anticipating and reacting to the market opportunities of today and tomorrow,” Griggs added.