Big Four accounting firm PricewaterhouseCoopers (PwC) is cutting 1,500 U.S. jobs, The Financial Times reported on Monday. The layoffs impact 2% of PwC's 75,000-person U.S. workforce and mainly affect its audit and tax divisions.

PwC told The Financial Times that it decided to make the cuts because it experienced multiple years of low attrition or turnover. In other words, few employees chose to leave the firm voluntarily. Before deciding on layoffs, PwC said it examined its business over several months and moved hundreds of employees from unneeded roles to higher-growth........

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