The embattled consulting firm is cutting staff levels again as its business continues to face fallout from the tax leaks scandal.
Embattled consulting firm PwC is slashing its staffing levels again as it restructures a business that continues to suffer as a result of the fallout from the tax leaks scandal.
PwC Australia CEO Kevin Burrowes says the cuts will help realign the business structure with the firm’s new long-term strategy. The firm, one of the big four accounting firms along with EY, Deloitte and KPMG, has come under immense pressure this year, and was forced to spin off its lucrative government business for $1 after partners at the firm allegedly used“This has been a very challenging and complex process, but an important one, as we realign our business structure with our new long-term strategy,” PwC Australia chief executive Kevin Burrowes said.
The latest cuts come just days after longtime PwC client Westpac announced the replacement of PwC as its auditor. The firm generated more than $70 million in fees with the bank over the past two years.
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