PwC Canada recently laid off about 2% of their workforce in silent layoffs. What does this mean for everyone?
To me this doesn’t mean that much. The big 4 have been warning for months that the economy isn’t good. Many have said that they won’t fire people, but obviously PwC isn’t one of them.
I don’t know if these layoffs are anything difference than performance layoffs. What I mean by that is that they are layoffs of low performing people. This happened at EY too where the firm announced layoffs on a firmwide call, but they turned out to be normal performance plan layoffs.
Typically you have to have low utilization or low performance to get laid off during these time periods. There is someone on reddit that said they were laid off with 80% utilization. I don’t know if I believe that. Even if it is true, this person is in advisory. It is pretty common to be laid off in advisory during a recession.
I think these layoffs will continue to occur across the big 4. 2% is nothing to panic about.