PwC UK to reduce 175 audit roles amid market challenges
June 30, 2025
PwC is set to lay off approximately 175 junior auditors in the UK, due to market challenges, reported the Financial Times (FT).
The decision to initiate compulsory redundancies marks a departure from the firm’s usual practice of voluntary severance, particularly within the audit division.
The final number of job cuts could vary, but the move is scheduled to take effect in August 2025.
The junior auditors affected by the redundancies were informed during a webcast that lasted about ten minutes.
PwC said: “We always keep the shape of our business under review to respond to changing client demands, attrition rates and new opportunities.”
“From time to time, we may need to reduce roles as a consequence — such decisions are never taken lightly. We continue to invest heavily in our people, including pay, promotions, bonuses and training.”
As per several sources cited by the publication, non-British nationals on firm-sponsored visas are among those facing redundancy, as they incur higher retention costs than UK nationals.
PwC has not commented on this aspect.
In addition, the firm’s 25,000 UK employees have been told to expect a 2.5% salary increase starting in July, a decrease from the 3% raise given last year.
Historically, audit roles at Big Four firms have been somewhat shielded from economic downturns due to the recurring nature of audit work. However, consulting divisions have experienced a decline in demand post-pandemic, highlighted FT.
Additionally, the professional services sector is currently experiencing poor demand in some areas, with a fall in voluntary staff departures, further outlined the publication.
Other firms, including McKinsey and Deloitte, have also reduced their workforce.
PwC has maintained a pandemic-era benefit allowing staff to take half-days on Fridays during the summer, now termed “Summer Empowerment.”
Earlier in June 2025, a report from The Wall Street Journal revealed that PwC is restructuring its US advisory division to enhance industry-specific services.
Moreover, the firm is also dealing with issues in Hong Kong related to the audit of China Evergrande Group.
[International Accounting Bulletin]
