PwC UK, Britain’s largest accountancy agency, has decreased employees numbers because it contends with a slowdown in its consulting enterprise and broader UK financial headwinds.
The agency mentioned it had taken the “powerful resolution to scale back roles” as a way to place the enterprise for sustainable progress, although it declined to reveal the precise variety of job cuts.
The agency reported a 3% decline in consulting income, which accounts for roughly one-third of complete UK revenues, contributing to muted firm-wide progress of 0.4% to £6.35 billion for the 2024/25 monetary 12 months.
Regardless of this, PwC’s UK revenue rose 20% year-on-year to £1.37 billion, largely resulting from price administration and operational restructuring, with associate payouts averaging £865,000, barely up from £862,000 in 2024.
Marco Amitrano, PwC UK’s managing associate, mentioned:
“In opposition to a difficult macro backdrop, we’ve proven resilience and brought decisive steps to place our enterprise for sustainable progress that meets the pursuits and expectations of all our stakeholders.”
He added that enhancing market sentiment is supporting a stronger pipeline throughout the agency’s multidisciplinary portfolio.
The UK financial system’s contraction and authorities efforts to restrict public sector consulting spend have squeezed a key income stream for the Huge 4.
PwC, which employs greater than 25,000 individuals within the UK and over 370,000 globally, has offset among the consulting decline with progress in audit, tax, and offers advisory.
The agency’s UK headcount fell to a median of 33,770 in 2024/25, down from 36,006 the earlier 12 months, whereas employees prices decreased from £3.32 billion to £3.15 billion.
Though consulting income fell to £1.98 billion, the tax, audit, and offers divisions recorded modest beneficial properties.
PwC has additionally launched a “managing director” position, which observers recommend could also be aimed toward sustaining senior management with out rising the variety of equity-holding companions.
The transfer follows a interval of great hiring and enlargement in response to post-pandemic demand, which has since slowed as purchasers reduce on discretionary consulting spend.
Recruitment tendencies mirror the shifting market. Accounting and consulting job vacancies in London rose 18% within the first half of 2025, in accordance with Morgan McKinley and Vacancysoft, indicating stabilisation in hiring regardless of general job reductions.
