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366 Aussies lose jobs as major Aussie firm wields axe: 'Challenging'

PwC has slashed jobs in a 'challenging' restructure.

More than 350 Australians will lose their jobs as consultancy firm PwC announces a significant structural overhaul after a tax scandal.

PwC Australia confirmed to Yahoo Finance that 329 roles would be made redundant and a further 37 partners would have their retirement fast-tracked, with the announcement made internally on Wednesday.

"All people impacted will be contacted in the coming days, and, where possible, individuals will be invited to apply for new roles created by the changes in our business structure," a statement from PwC said.

"These roles will be advertised internally, before being put to market."

PwC has announced hundreds of job losses after a
PwC has announced hundreds of job losses after a "challenging" restructure. (Getty)

This comes after PwC's tax practice was found to have misused confidential government briefings to help clients bend incoming tax laws.

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“This has been a very challenging and complex process, but an important one, as we realign our business structure with our new long-term strategy,” PwC Australia CEO Kevin Burrowes said.

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“I’m extremely proud of the contribution every individual at PwC Australia makes to this firm and their ongoing commitment to producing exceptional results for our clients.

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“We acknowledge that days like today are especially difficult for those affected, as well as their teams and colleagues. I can assure you that we will work closely with impacted individuals to ensure they are aware of their options and next steps.

“At its heart, this reorganisation will make the firm a more simplified, efficient and centre-led business, enabling us to continue delivering the highest quality of service to our corporate and private-sector clients.”

Almost 350 jobs were cut last year, including the early retirement of several partners.

PwC is one of the world's 'big four' consultancy and auditing firms.