PwC is cutting its workforce in Bermuda and has announced the departure of two partners amid the Island’s continuing economic downturn.A spokesman for the Big Four audit firm said they anticipate a reduction in total workforce in Bermuda of “near ten percent”. That would be the loss of about two dozen jobs, as PwC (PricewaterhouseCoopers) had a staff of 240 in Bermuda last year.The reduction in workforce includes changes and non-renewals of contracts. It is also part of a strategy to ensure greater coordination between PwC firms in the Caribbean region, which will result in consolidation of services including its internal IT, finance and human capital functions.“Consistent with businesses here in Bermuda and across the globe, we are responding to continued economic challenges,” said Darren Johnston, Territory senior partner for PwC Bermuda.“PwC is changing to maintain our position as the number one professional services firm in Bermuda and to service our clients in line with their evolving expectations.“Our response is part of a broader strategy to ensure greater alignment and coordination between PwC firms in the Caribbean network. We are investing heavily to create one strong PwC network, supported by a common vision, and centralised systems and tools.Mr Johnston continued: “Regrettably, as a result of this change, a small number of our people are departing from the firm, including two partners.”“Though we very much regret the impact that these actions are having on a small proportion of our people, ultimately these steps are about strengthening our firm to the benefit of our clients, people, and Bermuda. We remain committed to providing quality services to the marketplace that meet or exceed the standards for which we are known.”It is understood other audit and professional services firms are also reducing their employee numbers in Bermuda in response to the challenging economic environment, regulatory changes and other factors.The partners leaving PwC are David Thompson and Andrew Brook.The workforce reduction is part of PwC’s “transforming” of its Caribbean Region Network to maintain its position of number one professional services network in the region.“To better support our clients, seven PwC firms (Bahamas, Bermuda, Cayman, Eastern Caribbean, Jamaica, Trinidad and Tobago, and Turks and Caicos) are coming together and investing heavily to create one strong Caribbean Region Network, supported by a common vision, and centralised systems, processes, and tools,” a PwC statement said.Mr Johnston added: “This new network is integral to the future of PwC in this region. What has worked for the past 50 years is different from what we need to do to remain the number one professional services network in the Caribbean for the next 50 years.”PwC said the decision to become a more integrated network comes “in response to changes affecting businesses in the Caribbean and around the globe, and after months of intense study and engagement with stakeholders, senior leaders at PwC determined organisational strategy and priorities with the overarching goal of delivering greater value to our clients, people, and communities”.Mr Johnston added: “Economies under stress, evolving regulatory and professional requirements, and the growing expectations of our clients require us as leaders to take action now to retain our competitive position in the future.”