PwC Scales Back Hiring Plans as AI Reshapes Accountancy Roles
NEW YORK – PwC is considerably revising its recruitment strategy, scaling back plans to hire 100,000 people over five years as artificial intelligence transforms the skills needed within the professional services firm. The firm’s global chairman, Mr. Kande, acknowledged the shift, stating, “When we made the plans to hire that many people, the world looked very, very different. Now we have artificial intelligence. We want to hire, but I don’t know if it’s going to be the same level of people that we hire – it will be a different set of people.”
The move comes after PwC cut over 5,600 roles globally last year and follows previous announcements from the company’s UK leadership regarding reduced graduate recruitment. While the firm is adjusting its workforce, Mr. Kande emphasized AI is creating new opportunities, especially for engineers. “We are looking for hundreds and hundreds of engineers today to help us drive our AI agenda, but we just cannot find them,” he said.
PwC’s evolving strategy reflects a broader trend within the accountancy industry, where AI is automating routine tasks and demanding a workforce with expertise in data science, machine learning, and AI implementation. The firm is actively seeking to upskill its existing employees and recruit talent capable of navigating this technological shift.
Beyond the impact of AI, PwC has also benefited from global economic uncertainty, fueled in part by trade tariffs. Mr. Kande noted an increase in client requests for guidance navigating the current surroundings, describing the situation as “good for us.”
however, the firm is working to rebuild its reputation following a meaningful setback in China last year. Chinese authorities suspended PwC for six months over its audit work on the collapsed property giant Evergrande, finding the firm had “covered up and even condoned” financial fraud. mr. Kande, who assumed the role of global chairman after Evergrande’s bankruptcy, stated the firm has since implemented new quality management and governance systems to prevent similar issues, and confirmed PwC now faces no restrictions in China. “Let me tell you - we changed many of our people… My focus has been to make sure nothing like this ever happens again.”
