PwC will make 366 employees redundant, with the firm announcing it would slash 329 staff and up to 37 partners.
Those affected by the cuts will be contacted ‘in the coming days’ with the firm noting they would be invited to apply for new roles.
PwC CEO Kevin Burrowes said the restructuring process had been ‘complex’ and ‘very challenging’.
‘We acknowledge that days like today are especially difficult for those affected, as well as their teams and colleagues,’ Mr Burrowes said in a statement.
‘I can assure you that we will work closely with impacted individuals to ensure they are aware of their options and next steps.
‘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 major management restructure is reportedly to ensure the business model is simplified in the wake of a controversial year in business.
PwC’s tax practice was discovered to have misused confidential government briefings to assist clients bend the impending tax laws.
PwC will make 366 employees redundant, with the firm announcing it would slash 329 staff and up to 37 partners (pictured, the PwC offices in Melbourne)
PwC was forced to sell its government consultancy business – valued at up to $1billion – for $1 last year.
Almost 350 jobs were also slashed late last year, with several partners also entering early retirement.
The company’s Skilled Services Hub in Adelaide was also closed as part of the restructure, axing 141 jobs as a result.
The firm has also recently lost several clients, including Westpac which dumped PwC as its external auditors after a 20-year partnership in November.
PwC has been contacted.
More to come