“The purpose of this review was to ensure the firm is positioned for future success and long-term growth. Therefore,current to medium-term economic and market conditions were also taken into account,” PwC said.
The firm,one of the big four accounting firms along with EY,Deloitte and KPMG,has come under immense pressure this year,and was forced to spin off its lucrative government business for $1 after partners at the firm allegedly usedconfidential government tax plans to help multinational companies avoid the new scheme.
“This has been a very challenging and complex process,but an important one,as we realign our business structure with our new long-term strategy,” PwC Australia chief executive Kevin Burrowes said.
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“At its heart,this reorganisation will make the firm a more simplified,efficient and centre-led business,enabling us to continue delivering the highest quality of service to our corporate and private-sector clients.”
The latest round of job losses adds to the340 staff sacked in November as PwC’s core consulting business was hit by the tax leaks scandal and general economic conditions.
“We acknowledge that days like today are especially difficult for those affected,as well as their teams and colleagues. I can assure you that we will work closely with impacted individuals to ensure they are aware of their options and next steps,” Burrowes said on Wednesday.