PwC to axe 200 tax staff
PricewaterhouseCoopers is to axe up to 200 staff in its UK tax practice following a similar move by KPMG this month.
The cuts will be across the board affecting 6% of staff working in the tax department and will not include partners. However several tax partners are due to retire at the end of June.
A spokeswoman for PwC, said: ‘The cuts are due to the tough economic environment which it hitting our clients and having an impact on our market.
The firm is keen to position the tax practice before its new tax year begins in July.’
Staff have been told about the redundancies though the final decision on exactly who will lose their jobs has yet to be taken. Most of the cuts will be made by mid-March.
Rival firm KPMG announced on 4 February that at least 150 jobs would have to go in its tax practice as it reacts to changing client demands.