Fifteen associates will be made redundant out of 125 lawyers, with another 5-10 administrative staff to follow. PwC is in discussions with its staff and hopes to confirm exact numbers by next week.
Norway senior partner Paul Hasner said: “Because of the market, we need to reduce numbers. We've decided to do it in the proper manner and according to the law.”
This is the first time that a Norwegian law firm has made significant redundancies and it has sparked rumours of a wave of layoffs at Norway's other leading firms.
“Our position is similar to that of most large law firms in Norway,” said Hasner.
PwC Norway has suffered bigger losses than the combined law and audit firm. It is cutting between 30 and 40 jobs in Norway from a total of around 1,100 staff.
The firm has taken great steps to distance its law firm from its auditing arm following the Andersen-Enron scandal .
The redundancies do not come from a specific practice area but across the legal and consulting areas.