PwC (PricewaterhouseCoopers), one of the world’s leading professional services firms and a member of the Big Four, has laid off approximately 1,500 employees in the United States, accounting for around 2% of its 75,000-person U.S. workforce, according to a report. The job cuts are part of a broader business review and restructuring initiative aimed at aligning talent resources with market demand and internal priorities.
Most of the affected employees reportedly belonged to the audit and tax divisions, areas that have seen softened demand amid changing client needs and slower market growth. The layoffs come after PwC had already reassigned hundreds of employees from less active roles to faster-growing service areas in an attempt to optimize workforce utilization.
Layoffs Trigger Shock Among Recently Hired and Promotion-Eligible Staff
Employees impacted by the layoffs received notifications on May 5 and 6, 2025, often through Microsoft Teams meeting invites marked “time sensitive,” leaving many blindsided. Some of those let go had joined the firm as recently as September 2024, making the sudden layoffs even more difficult to process.
“Everyone was completely blindsided by the layoffs today,” said one employee. “Some of us were up for promotion, but instead of a pay bump, we’re now getting cut off,” another employee added.
While the firm is reducing its campus recruitment efforts, it has stated that job offers already extended to last year’s interns—expected to join later this year—will be honored, indicating a measured approach to long-term talent planning.
In its official statement, PwC acknowledged the difficulty of the decision, attributing the layoffs to historically low levels of attrition over the past few years:
“This was a difficult decision, and we made it with care, thoughtfulness, and a deep awareness of its impact on our people,” the company said.
Industry Trend: Other Big Four Firms Also Slashing Jobs
PwC is not alone in streamlining its workforce. Other Big Four accounting firms, including Deloitte and KPMG, have also enacted layoffs in recent months, citing a mix of low voluntary attrition, evolving client demand, and slower growth in specific sectors.
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In early 2025, Deloitte announced cuts in its advisory services division, stating that while demand remains strong overall, moderating growth in some areas made limited job reductions necessary.
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In November 2024, KPMG laid off around 330 employees in the U.S., also pointing to persistent low attrition as a factor behind the decision.
These moves indicate a shifting landscape in professional services, where firms are being forced to make strategic staffing decisions amid economic uncertainty, digital transformation, and changing client expectations.
What This Means for the Consulting and Accounting Sector
The recent wave of layoffs among the Big Four highlights a broader recalibration of workforce strategies, especially in legacy service areas such as audit and tax. While demand in technology-driven consulting and advisory services remains robust, traditional practice areas are under pressure to modernize and optimize costs.
For job seekers and new graduates, the trend also signals a more competitive environment in professional services, even as firms continue to recruit for niche skills in data analytics, cybersecurity, ESG, and AI-driven advisory services.
As firms like PwC navigate the post-pandemic economy and evolving market dynamics, flexibility and adaptability in staffing models will be critical—not just for business continuity, but also for employee retention and long-term sustainability.