Layoff Details
- Reason
- PwC initiated a global workforce reduction of 5,600 employees during its fiscal year 2025 (ending June 30), driven by a significant slowdown in global revenue growth (2.9% in FY2025, a third consecutive year of decline). This strategic realignment is a response to a challenging economic climate, the need to reinvent the business, and substantial investments in next-generation AI capabilities to boost productivity. The firm also abandoned its ambitious 2021 pledge to hire 100,000 new employees globally by mid-2026, shifting focus from headcount expansion to efficiency and technological integration. Contributing factors also include internal scandals and regional challenges, leading to a strategy prioritizing 'quality over size,' including withdrawal from 13 countries and client portfolio adjustments.
- Affected Locations
- GlobalUnited StatesMiddle EastUnited Kingdom (reduced graduate recruitment)Asia-Pacific
- Affected Departments
- Business Support Functions (MarketingITCommunicationsHR)AuditTaxAdvisory ServicesTechnology SupportAssurance
Sources (1)
Company Info
- Industry
- Consulting & Accounting
- Headquarters
- London, United Kingdom
- Total Employees
- 364,782
- Founded
- 1998
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