The layoffs, its first in 15 years, will be accompanied by a restructuring of PwC’s technology group amid slowing demand for its advisory services, the Wall Street Journal reported Wednesday (Sept. 11), citing sources familiar with the matter.
https://www.pymnts.com/personnel/2024/report-pwc-cuts-1800-jobs-amid-waning-advisory-demand/
The cuts, about half of which are offshore, include associates as well as managing directors. It also includes business services, audit and tax divisions, the sources said.
Interesting that in an industry that relies on confidentiality and discretion that this was leaked. Company wasn't ready to share, but they had to send out internal email since WSJ got the scoop. I think I would rather have been blindsided in October than spend the next month trying to figure out who's affected and worrying if I might be the exception and not the rule.
Yes, there's a "waning advisory demand" because all the monopolies and regulators in the united states already have former pwc/mckinsey/deloitte working in-house, in oversight positions. "Industry best practices" are meaningless now thanks to consolidation. We enabled this.