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Dozens of partners at PwC will reportedly be taking an early retirement next month amid plans to boost the firm’s performance, Sky News has learnt.
The partner retirements come as the Big Four audit firms face significant costs due to increased employer National Insurance contributions.
Earlier this week, around 1,030 UK partners were reportedly informed that a “larger-than-usual” number of partners would retire at the end of the year.
Sources told Sky that the round of retirements would include partners with average pay packages of about £1m.
The news follows the appointments of 60 new partners earlier this year under Marco Amitrano, the new UK boss.
Sky stated that Amitrano is believed to have communicated the change to partners via a voice memo, though one insider challenged the notion that the numbers involved were “significant”.
PWC has been contacted for comment.
