Global accounting giant PwC (PricewaterhouseCoopers) is cutting approximately 1,500 jobs in the United States, representing about 2% of its U.S. workforce, a company spokesperson confirmed to Reuters on Monday.
The firm, which employs more than 75,000 people across the U.S., said the layoffs were driven by persistently low attrition rates and a strategic need to rebalance its workforce.
“This was a difficult decision, and we made it with care, thoughtfulness, and a deep awareness of its impact on our people,” PwC said in a statement. “Historically low levels of attrition over consecutive years have made it necessary to take this step.”
The layoffs are part of a broader wave of restructuring moves by the Big Four firm, which recently shut down operations in nine Sub-Saharan African countries following a global strategic review. The affected countries include Ivory Coast, Gabon, Cameroon, Madagascar, Senegal, the Democratic Republic of Congo, Republic of Congo, Republic of Guinea, and Equatorial Guinea.
In a statement published on its website, PwC said the closures reflect an overhaul of its network structure and long-term market strategy, focusing on areas with stronger growth prospects and more manageable risk profiles.
The move comes amid industry reports suggesting internal tensions between PwC’s global leadership and some local partners in Africa, particularly over efforts to de-risk client portfolios and cut ties with clients considered high-risk or non-compliant.
A report by the Financial Times, citing sources familiar with the matter, noted that revenues in some African markets had fallen by more than one-third in recent years after the firm instructed partners to sever relationships with such clients.
Last year, PwC also faced scrutiny in China, where it was reportedly considering deep cuts to its financial services audit team amid a regulatory crackdown and the loss of several high-profile clients.
The latest developments represent one of the most significant contractions by a global accounting firm in emerging markets in recent years, as economic headwinds, regulatory pressure, and strategic realignment reshape the professional services landscape.
