Why it matters: PwC is cutting staff and partners as part of a restructure.
Context: The private sector consulting market is not expected to pick up until at least August.
What next: The firm is also overhauling its governance and culture as it rebuilds after its tax leaks scandal.
Embattled professional services firm PwC Australia will swing the axe in a second round of major job cuts in as many years, with 329 staff and up to 37 partners to be forced out.
The job cuts represent about 5 per cent of the firm’s 7000-strong staff and are being done as part of a broader restructure aimed at cutting $100 million in ongoing costs amid a slow consulting market. The partner cuts also represent about 5 per cent of the more than 750 partners at the firm.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
Edmund Tadros leads our coverage of the professional services sector. He is based in our Sydney newsroom. Connect with Edmund on Twitter. Email Edmund at edmundtadros@afr.com.au
