PwC staff set for pay cut as M&S offer rise

UP to 2,000 staff at the Irish operations of PricewaterhouseCoopers (PwC) are to take a 10% pay cut while Marks and Spencer is offering employees a pay increase.

The accountancy firm said is it not planning widespread redundancies and is putting measures in place, such as reduced working weeks to prevent this happening.

It is also offering incentivised leave for travel and study and temporary transfers to PwC offices worldwide. The company said applications for leave will be decided on a case-by-case basis.