PwC, a major accountancy firm, is set to reduce its workforce by up to 600 jobs in the UK due to a decline in staff resignations. The company will introduce a voluntary redundancy program for 500 to 600 employees, with the possibility of compulsory layoffs if insufficient staff opt for voluntary departure. This decision comes as the "great resignation" affecting consultancies in 2021 and 2022 has shifted to challenges related to rising costs, reduced demand for certain services, and a surplus of employees choosing to stay in their current roles due to fewer opportunities in startups and technology companies.The job cuts will primarily impact PwC's advisory business, with a smaller number of positions in the tax department affected, while the audit division remains unaffected. Employees at various levels, ranging from directors to junior staff, will be impacted, with a focus on reducing junior and mid-level roles due to the firm's structure. PwC's move to implement the redundancy program is driven by a commitment to maintaining fairness, ensuring opportunities for those embarking on their careers, and preserving diversity and social mobility efforts.

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