Home » PwC Australia slashes hundreds of jobs months after tax scandal

PwC Australia slashes hundreds of jobs months after tax scandal

PwC Australia is cutting more than 350 staff in a significant structural overhaul that follows last year’s tax scandal.

The consulting giant confirmed to 9news.com.au that it is making 329 roles redundant and fast-tracking the retirement of up to 37 partners in changes that affect “all lines of service and support functions”.

PwC Australia’s workforce numbers over 8000, according to its website.

PwC Australia is cutting more than 350 staff. (The Age / Joe Armao)

“All people impacted will be contacted in the coming days, and, where possible, individuals will be invited to apply for new roles created by the changes in our business structure,” a statement from PwC said.

“These roles will be advertised internally, before being put to market.”

The overhaul comes in the wake of revelations last year of how PwC used its knowledge of Australian government secrets to help multinational companies avoid paying tax.

The fallout saw the firm effectively barred from winning any new contracts with the Department of Finance, while other major government projects, including an aged care audit, were suspended.

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An independent review from respected businessman Ziggy Switowski made 23 recommendations for the firm to implement across its governance, culture and accountability.

Today, PwC said the job cuts reflected its shift away from government contracts and towards “a private and corporate sector client base”.

“The firm has reviewed all aspects of its business, across every level of the organisation,” the firm said.

Kevin Burrowes, Chief Executive Officer, PwC Australia
PwC Australia CEO Kevin Burrowes said the job losses were particularly difficult. (Alex Ellinghausen/SMH)

“The purpose of this review was to ensure the firm is positioned for future success and long-term growth, therefore current to medium-term economic and market conditions were also taken into account.”

CEO Kevin Burrowes said it was a particularly difficult day.

“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,” he said.

“I’m extremely proud of the contribution every individual at PwC Australia makes to this firm and their ongoing commitment to producing exceptional results for our clients.

“We acknowledge that days like today are especially difficult for those affected, as well as their teams and colleagues. I can assure you that we will work closely with impacted individuals to ensure they are aware of their options and next steps.

“At its heart, this reorganisation will make the firm a more simplified, efficient and centre-led business, enabling us to continue delivering the highest quality of service to our corporate and private sector clients.”