Embattled consultancy firm PwC to slash hundreds of jobs

More than 330 jobs will go at PwC following the consulting giant’s involvement in a taxation scandal earlier this year.

Embattled consultancy firm PricewaterhouseCoopers (PwC) is shedding more than 330 jobs and will close one of its major offices in South Australia.

The Adelaide-based “skilled services hub” that supports government and private clients will be axed, with 141 roles there to be made redundant.

On top of that, a further 197 staff nationally will be made redundant, with about 200 Adelaide staff instead moving to that national workforce.

PwC announced on Wednesday they would be making more than 330 of its staff redundant. Picture: NCA NewsWire / Damian Shaw

PwC CEO Kevin Burrowes on Wednesday said his thoughts were with the staff and their family members affected by the changes they’ve been “forced to make.”

“While we are optimistic about the future, PwC must take pragmatic action to manage these challenges and make difficult decisions to meet the needs of its clients and to ensure the long-term success of the firm,” he said in a statement.

“In South Australia and across the rest of the country, we will continue to serve our clients with the highest degree of quality and professionalism – and we are grateful to our people for the resilience and dedication they have shown their clients.”

PwC came under fire earlier in 2023 after it was revealed the organisation used confidential government tax information to help its clients avoid paying more tax.

PwC chief executive Kevin Burrowes fronting a Senate inquiry into consultancy services earlier this year. Picture: NCA NewsWire / Martin Ollman

Some of those staff made redundant on Wednesday were 75 who had been working with Scyne Advisory, PwC’s spin-off government consultancy arm.

The 75 Scyne workers had been slated for a return to PwC, but on Wednesday learned their roles would be made redundant.

No auditing roles within the South Australian branches are understood to be affected by the shake-up.

The news came just hours after Westpac announced it was dumping PwC as its external auditors after a 20-year partnership.

“Westpac announced today that it has commenced a tender for its external audit services,” Westpac said in a statement to the ASX.

“Westpac’s external auditor, PricewaterhouseCoopers (PwC) was appointed by shareholders in 2002 … due to their tenure as the Group’s external auditor, PwC has not been invited to participate in the tender.”