Accounting giant PwC announces layoffs: 1,500 jobs will be cut in the U.S.

Big Four accounting firm PwC is laying off about 1,500 employees in the United States, a company spokesperson told Reuters on Monday.

The workforce reduction equates to approximately 2% of our U.S. firm, the spokesperson said.

PwC employs more than 75,000 people in the United States.

“This was a difficult decision, and we made it with care, thoughtfulness, and a deep awareness of its impact on our people, appreciating that historically low levels of attrition over consecutive years have made it necessary to take this step”, PwC said in a statement.

Last year, Reuters had reported that PwC was considering slashing up to half its financial services auditing staff in China, as a regulatory investigation and an exodus of clients darken business prospects.

PwC last month shut operations in nine Sub-Saharan African countries following a strategic review.

KPMG, PwC, EY and Deloitte make up the Big Four accounting firms.

In November last year, Reuters had reported that KPMG would lay off less than 4%, or about 330 people, of its audit workforce in the United States.

—Jaiveer Shekhawat, Reuters