PwC UK offers voluntary severance amidst consulting downturn
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PwC has initiated a “silent lay-off” round in the UK, offering voluntary severance to staff in consulting, risk, operational, and managed service divisions in London and Belfast.
Affected employees have been individually notified and instructed not to disclose their departure to colleagues or the nature of the severance package. A suggested leaving message script has been provided by HR, FT reports.
The sample script:
Following recent discussions with my [relationship leader], I have taken the decision to leave PwC. It hasn’t been an easy decision for me to reach but now that I have, I am excited about what the future holds for me and the new opportunities on the horizon. I have really enjoyed my time at PwC and the opportunity to work with such talented colleagues.
The move follows a reduction of 600 roles at PwC late last year due to decreased attrition rates. The Big Four firm not specified the number of roles targeted in this round. The aim, according to PwC, is to maintain business agility and continue recruiting where new skills are needed.
While offering enhanced packages compared to compulsory redundancy, the scheme comes amidst a challenging economic climate for consulting firms in the UK. All Big Four firms, including PwC, have made cuts recently in response to subdued demand.
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