Recent Layoffs Among the Big Four Accounting Firms: A Closer Look

The Big Four accounting firms—Deloitte, EY, KPMG, and PwC—have recently implemented significant workforce reductions in response to evolving market dynamics and economic pressures. These layoffs reflect broader trends within the professional services industry, where firms are adjusting their operations to align with changing client demands and financial realities.

PwC’s Layoffs

In May 2025, PricewaterhouseCoopers (PwC) announced the layoff of approximately 1,500 employees in the United States, representing about 2% of its 75,000-person U.S. workforce. This move primarily affected the firm’s audit and tax divisions and was attributed to historically low attrition rates, leading to staffing surpluses.

In September 2024, PwC announced plans to lay off approximately 1,800 employees, representing about 2.5% of its U.S. workforce. This move marked the firm’s first substantial reduction since 2009. The layoffs affected various levels of staff, including associates and managing directors, with nearly half of the cuts impacting offshore roles.

KPMG’s Audit Workforce Cuts

In November 2024, KPMG revealed plans to lay off approximately 330 employees, constituting less than 4% of its U.S. audit workforce. This decision was driven by a need to adjust to fewer people leaving on their own.

Deloitte UK’s Advisory Business Reductions

Deloitte UK announced plans to cut up to 180 roles in its advisory business due to a sluggish market for major consultancy firms. This follows previous rounds of job cuts, including up to 250 jobs at risk in October and up to 800 jobs in September, primarily in its consulting division.

EY’s Global Workforce Adjustments

EY has also undertaken workforce reductions, though specific numbers and details have varied by region. The firm has been adjusting its global operations to align with market conditions and client needs.

Industry-Wide Trends

These layoffs are part of a broader trend within the professional services industry, where firms are recalibrating their workforce strategies in response to economic pressures, changing client demands, and the need for operational efficiency. The Big Four firms, which collectively employ hundreds of thousands of professionals worldwide, are focusing on streamlining operations and aligning their workforce with strategic priorities.

Conclusion

The recent layoffs among the Big Four accounting firms underscore the dynamic nature of the professional services industry. As these firms navigate economic challenges and shifting market demands, workforce adjustments are becoming a common strategy to maintain competitiveness and operational effectiveness. The industry continues to evolve, and these developments highlight the ongoing need for firms to adapt to the changing business landscape.