Downturn keeps big firms busy slimming staff and killing rumours

Accountancy is far from immune to the credit crunch, according to reports last week of downsizing at the bigger firms. PricewaterhouseCoopers has offered staff voluntary severance terms to an unknown number of employees. Meanwhile, Grant Thornton is looking to shed 5% of its 4,500-strong workforce and BDO Stoy Hayward have today put 250 staff and partners on a 90-day “consultation period”.

A spokeswoman from PwC said the severance packages were not specific to any division to department, and reflected the firm’s ongoing review of the external marketplace.

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