PwC layoffs: Consulting firm to cut around 600 jobs in UK

PricewaterhouseCoopers (PwC), a prominent "Big Four" consulting firm, is reportedly set to reduce its workforce by around 600 in the UK.

The move, which is primarily targeting its advisory and a small portion of the tax department, stated that they are offering voluntary severance packages due to lower attrition rates and subdued growth in certain business segments.

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According to a Financial Times report, if the voluntary program doesn't yield sufficient departures, compulsory job cuts may follow. It's important to note that PwC's audit division will remain unaffected by these cuts.

This move comes in the wake of similar actions by other Big Four firms, with KPMG planning around 100 job cuts in its deal advisory business, and Deloitte aiming to reduce its UK workforce by over 800 positions, all in anticipation of a potential economic slowdown.