The Globe and Mail reports in its Saturday edition that global accounting giant PricewaterhouseCoopers LLP has become the latest member of the financial services industry to reduce its Canadian work force. The Globe's Jameson Berkow writes that many recently terminated PwC employees are unwilling to go quietly. Dozens have reached out to employment law firm Samfiru Tumarkin LLP in recent weeks claiming they were fired without adequate severance. The layoffs, which have not been announced publicly, have affected several business units across Canada. PwC Canada said in a statement that "some limited job reductions" have been made, representing less than 2 per cent of the company's Canadian work force. PwC has more than 7,700 Canadian employees in 19 offices across the country, with 2 per cent representing roughly 150 people. According to one termination e-mail obtained by The Globe, PwC offered employees whose "services are no longer required" one week of pay per year of service, with benefits to be terminated one week from the date of dismissal. Canada's largest banks have been quietly shedding jobs since early summer, including 2- to 3-per-cent cuts at Bank of Nova Scotia, Royal Bank of Canada and Bank of Montreal.
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