PwC spinoff Scyne Advisory to axe 90 roles
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The news: Scyne Advisory will cut about 90 roles, including more than 10 managing director roles, in a restructure.
The context: Managing partner Richard Gwilym told staff about the changes in an email today, partly attributing them to the federal government’s reduction in external advice and support.
Gwilym told staff that while Scyne has been making progress in stabilising the business and building its strategy over the last nine months, it is shifting to a more focused strategy and prioritising areas it believed it could have the greatest impact.
Scyne Advisory was spun out of PwC after the big four firm sold its public sector consulting arm for $1 to Allegro Funds in 2023. The sale followed the government cutting ties with PwC after a national scandal involving leaked tax plans.
What they said: "While our business has been making progress, our market has undeniably tightened with governments, in particular the Federal Government, reducing spend on external advice and support," Gwilym said.
“... This has resulted in the need to make some changes to our business to create the capacity for increased investment in areas of identified strategic importance.
“In doing so, we have overlayed an assessment of both market conditions and the size and scale of capability in each of our markets.
“As you will note, there are numerous roles advertised in these areas currently and we will continue to focus our recruitment efforts to support our growth ambitions.”
The source: Scyne email to staff
