PwC cuts record number of UK partners and halts tech apprenticeship scheme

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A record number of UK partners in PWC came out in 2024, while Big Four also stopped one of the industrial disciples programs, making the cuts in its upper and lower ranks with a distress to protect profitability.

A total of 123 partners of Big Four Firm left last year, more than twice the annual average since it began to unveil numbers in companies’ files in the United Kingdom in 2002, according to the analysis conducted by the company.

The pressure on the numbers of the novice partners and employment comes at a time when the company is fighting to protect its annual profit, which is less than 1 million pounds for the partner, which was struck with a sharp slowdown in the postpartum in the consulting sector.

PWC stopped employing one of its industrial disciples plans, and it was broken by its previous practice by refusing to provide permanent jobs to some of the regiment due to the graduation of the program this year, according to the people familiar with the matter.

The company has provided vocational training for “starting” since 2018, along with other programs for school graduates, but its website says that the plan “does not accept requests currently”, while someone close to the company confirmed that he “stopped”.

The four -year plan allows the trainees to have experience in work in addition to a PWC certificate, which was one of the 10 best professional training heads in the UK in 2023.

In previous years, students who have received at least 1 tone were offered permanent jobs, according to the people familiar with the matter. But PWC told 27 of 91 trainees for completing the program this year that he would not provide them with permanent roles when graduating.

The change was due to “market conditions and we were responding to changes in the needs of our customers,” according to an email that FT saw.

One of the trainees said that some of the students who were rejected from a permanent role had missed the window to apply to the other four major companies because they expected to offer a job by PWC if they got the required grades.

The recruitment of postgraduate studies and the school party has declined by graduate accounting companies during the past year. In 2024, PWC recruited about 1500 people from the university, colleges and school, compared to 1793 university services and schools in the previous year. Her rival KPMG 942 graduated graduates and trainees last year, 33 percent less than the previous year.

Other measures to save costs in PWC included A tour of silent demobilizationWhere the employees were offered to be voluntary, but they were ordered not to inform their colleagues about the reason for their departure, and to establish a new “administrative manager” to keep senior employees without promoting them to partnership.

PWC partners in the United Kingdom were paid more than a million pounds in 12 months until June 2022, as companies rushed to advice on repairing their business models after the roaming epidemic. However, the number decreased every two years of the past two years, with an average of 862,000 pounds in 2024 as the highest costs and the drying of deals, to pay customers to reduce spending.

Deposits at Companies House, companies in the United Kingdom, show that 74 PWC partners have come out in December alone, compared to an average of 12 exits in the same month over the past 21 years.

December’s stumbling block came in the partner exits shortly after the entrance to Marco Amitrano as a major PWC partner in the UK and the Middle East in July. He was the second highest year outside the partner in 2016 when Ametrano Kevin Ellis was elected and left 95 partners.

PWC partners have increased over the years, especially after the United Kingdom Company was combined with the Middle East Network Company in 2009.

PWC maintained the largest partner of the four major companies. It has 987 shares partners, a decrease from 1057 in 2023, according to the company’s home data. I have EY, Deloitte 873 and 757 partners in a row, while KPMG has 458.

PWC rejected the comment.