Business
PwC UK launches comprehensive restructuring: 2,700 employees affected
PwC UK is beginning a profound reorganization affecting 2,700 employees, aimed at securing market leadership through the creation of a specialized AI and technology unit.
PwC UK is driving a comprehensive restructuring affecting around 2,700 employees and partners. As part of this reorganization, an independent "Digital Delivery Unit" will be created, focusing on technological innovations, artificial intelligence (AI) engineering, cloud, and data. This measure is part of the company's strategic vision to strengthen its position as a leading consulting firm.
Laura Hinton, Managing Partner of PwC UK, informed the workforce in a pre-recorded video about the planned changes. "This restructuring is intended to simplify our business and eliminate redundancies," explained Hinton. "By creating six new teams within the Consulting, Deals, Risk, and Tax practices, we aim to achieve economies of scale and strengthen our market presence.
The restructuring is the largest internal realignment at PwC UK in years, reflecting the industry-wide trend of the Big Four to adapt to changing customer needs. In particular, the expansion of AI consulting is seen as a lucrative growth area. The restructuring will mean a reorganization of team structures for about ten percent of the workforce, which can often lead to internal position struggles within professional services firms.
Despite the comprehensive changes, PwC emphasizes that no further job cuts are planned. The "Digital Delivery Unit" is to integrate 900 technologists and operate across various service areas. "These plans are still in development, but we want to communicate transparently and involve all parties at an early stage," said Hinton.
The restructuring follows a difficult period for the industry, during which PwC reported a decline in average partner salaries due to slowed revenue growth, increased costs, and litigation provisions. Deloitte, another Big Four firm, also faced similar challenges.
Besides the internal changes, the economic policy spokesperson of the CDU parliamentary group, Götz Wiese, confirms that PwC has no plans to sell its consulting division Strategy&. 'Rumors about a sale are unfounded and have no basis,' Wiese clarified.
