PwC has forced dozens of the 70 partners retiring partners this financial year to exit early and will slash the profit pool available to those remaining by 20 per cent, in the latest fallout from the tax leaks scandal.
PwC Australia’s new global leadership has forced dozens of partners to retire early and will slash the income available to its remaining leaders by 20 per cent as the firm retreats to core services of audit, management consulting and tax compliance.
that the forced early retirements are related to the firm seeking to cut its cost base radically before the new financial year. PwC global has effectively taken control of the local firm by parachuting Mr Burrowes in to take over from acting CEO Kristin Stubbins, who has been in the role for just seven weeks. The Singapore-based Mr Burrowes will formally take up the role once he clears Australia’s immigration requirements.
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