PwC plans cuts, lower pay rises on tougher market conditions: FT
PricewaterhouseCoopers LLP is planning layoffs in the UK and lower salary increases amid a broader market slowdown, the Financial Times reports.
PwC intends to cut around 175 junior auditors by August and told its UK staff they would receive a 2.5% pay rise from July, less than the 3% last year, according to the FT, citing unidentified people familiar with the matter.
The move comes as the sector contends with weaker demand for some professional services and a 'sharp decline' in voluntary staff departures that has surprised firms, the FT said.
Non-British nationals on visas sponsored by PwC, who are more expensive to keep on the payroll than their UK counterparts, were among those made redundant, according to the FT. –BLOOMBERG
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PwC plans cuts, lower pay rises on tougher market conditions: FT
PricewaterhouseCoopers LLP is planning layoffs in the UK and lower salary increases amid a broader market slowdown, the Financial Times reports. PwC intends to cut around 175 junior auditors by August and told its UK staff they would receive a 2.5% pay rise from July, less than the 3% last year, according to the FT, citing unidentified people familiar with the matter. The move comes as the sector contends with weaker demand for some professional services and a 'sharp decline' in voluntary staff departures that has surprised firms, the FT said. Non-British nationals on visas sponsored by PwC, who are more expensive to keep on the payroll than their UK counterparts, were among those made redundant, according to the FT. –BLOOMBERG
