NEW YORK PricewaterhouseCoopers (PwC) has announced plans to lay off approximately 1,500 employees, roughly 3% of its U.S. workforce, as the company grapples with a prolonged slowdown in the industry. The layoffs come as PwC cites low employee turnover and a decrease in client demand, particularly in auditing and consulting services.
The decision reflects broader trends in the professional services sector, where many firms are adjusting to shifting market conditions, including rising competition and slower growth in certain sectors. PwC emphasized that the move is part of efforts to realign its workforce in response to the ongoing challenges facing the industry.
Employees affected by the layoffs will receive severance packages and job placement support as part of PwC’s transition plan.
