RegulationAccounting StandardsPwC Ireland to cut salaries by 10%

PwC Ireland to cut salaries by 10%

Wages cut in a bid to avoid redundancies

PricewaterhouseCoopers Ireland has cut 10% off the salaries of most of its
2,200 employees.

The firm says it is part of a series of initiatives it is taking to avoid
redundancies, according to the Irish Times and the Irish
Examiner
.

Yesterday, PwC held briefings for staff to outline measures it is taking in
response to the recession. It will not rule out job cuts altogether.

‘We are not planning widespread redundancies. Where we have surplus capacity
and have exhausted all options, we may look to make some individuals roles
redundant,’ the firm said in a statement.

Other measures the firm is taking include reduced working hours, incentives
to go on leave for travel or study and secondments to other PwC offices abroad.

There is also doubt over whether the firm will be able to offer all its
trainees work when their contracts expire.

Last week KPMG in Ireland revealed it was in a similar situation.

Go to:

Irish
Times story

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