The restriction demands partners involved in a “group departure” to a rival firm pay back the fees they generated in the previous year.
– but are not entitled to standard employment protections because they are business owners, not employees.Departing partners are also now much more likely to hire lawyers to help them in exit negotiations with the firm, said a former PwC partner now at a rival big four firm.
The ex-partner said that he believed the firm’s leaders would “posture” by making legal threats “but I don’t think they’ll go to court”. “They can’t burn through partner funds,” he said.The former partner also said that the traditionally strong bond of partnership at PwC, and all the big four firms, has been frayed due their rapid growth.
The second employment law expert said the “rule of three” clause was “utterly unenforceable for those government consulting partners not going to [PwC spin-off company] Scyne”., which led to the creation of Scyne Advisory, after the firm’s tax leaks scandal prompted the Department of Finance to effectively cut it off from new federal government work.
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