May 6, 2025 — New York, USA
Global accounting and consulting giant PricewaterhouseCoopers (PwC) is set to cut approximately 1,500 jobs in the United States, representing about two percent of its U.S. workforce, the firm confirmed on Monday.
PwC, which employs over 75,000 people across the United States, said the decision to downsize was driven by persistently low attrition rates in recent years and the need to adjust its workforce accordingly.
“This was a difficult decision, and we made it with care, thoughtfulness, and a deep awareness of its impact on our people,” the company said in a statement to Reuters. “Historically low levels of attrition over consecutive years have made it necessary to take this step.”
The U.S. layoffs come amid a broader trend of restructuring and risk recalibration within the global firm. In 2023, PwC reportedly considered slashing up to 50% of its financial services auditing team in China due to regulatory pressures and a wave of client departures.
Just last month, PwC also announced the closure of its operations in nine Sub-Saharan African countries, including Ivory Coast, Gabon, Cameroon, Madagascar, Senegal, the Democratic Republic of Congo, Republic of Congo, Republic of Guinea, and Equatorial Guinea. The firm cited a “strategic review” as the reason behind the move.
“This decision is part of a strategic review of our network structure and long-term strategy in select markets,” PwC said in a statement on its website.
The closures reflect one of the most significant regional contractions by a Big Four accounting firm in recent memory and highlight PwC’s ongoing efforts to streamline operations in markets deemed high-risk or underperforming.
Reports also indicate internal tensions between PwC’s global leadership and local partners, particularly surrounding a directive to “de-risk” client portfolios. According to Financial Times, revenues in several African markets have plummeted by more than one-third in recent years as local partners were instructed to sever ties with high-risk clients.
PwC operates as a network of independent but affiliated partnerships, which allows for regional flexibility in strategy but has also led to differences in direction between global headquarters and local offices.
As the firm navigates a challenging global environment, the latest job cuts and market exits underscore PwC’s shifting priorities and continued efforts to optimize its global footprint.
