Downturn keeps big firms busy slimming staff and killing rumours

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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 firms ongoing review of the external marketplace. The source also said that rumours of a graduate recruitment freeze at the UKs largest accountancy firm were untrue.

Despite difficult economic conditions, we are continuing to invest and recruit in growth areas, the PwC spokeswoman said. The n...

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09th Dec 2008 19:34

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