PricewaterhouseCoopers to cut up to 600 jobs

Accounting giant PricewaterhouseCoopers will cut approximately 600 UK-based roles, a move that comes hot on the heels of similar moves by fellow "Big Four" firms KPMG and Deloitte.

PwC told Reuters: "In light of lower than normal attrition rates and subdued growth in parts of the business, we are making targeted voluntary severance offers to some of our people."

However, PwC did not disclose the number of employees that would be affected by the move but according to the Financial Times, it will put into place a voluntary redundancy programme and then cut jobs on a compulsory basis if needed.

The FT said PwC's job cuts will be principally aimed at its advisory business, as well as a small number in its tax department. Its audit department will be unaffected.

Last month, KPMG revealed that it was planning to cut roughly 100 jobs in its UK deal advisory business, while Deloitte also said it was planning to slash more than 800 British jobs.

Reporting by Iain Gilbert at Sharecast.com