PwC is making a tranche of junior auditors redundant, according to The Financial Times (FT).
This news follows the Big 4 firm letting hundreds of audit associates ‘go’ in late June.
The new job cuts become real in August said the FT, with PwC saying it had to push through redundancies as not enough employees were coming forward for voluntary redundancy.
The FT pointed out that PwC’s audit business is the largest in the UK in terms of fee income with revenue of £1.49bn in FY24.
On a positive note the FT said that there is a major shortage across the accounting profession, so demand for these junior should be high.
A spokesperson told the FT: “We always keep the shape of our business under review to respond to changing client demands, attrition rates and new opportunities.
‘From time to time, we may need to reduce roles as a consequence – such decisions are never taken lightly. We continue to invest heavily in our people, including pay, promotions, bonuses, and training.”
