UK subsidiary of PwC sees profit rise due to staffing cutbacks
In the ever-evolving world of business, PwC UK has navigated the challenges of the industry and continued to thrive. The firm's financial performance for the year ended 30 June 2025 reflects this resilience, with a total revenue of £6.35bn, a 0.4% increase from the previous year.
The tax, deals, and audit business groups of PwC UK recorded impressive growth, with tax leading at 6%. Despite the intensified competition in the industry, the firm has managed to maintain its position by adopting new business models and keeping prices competitive.
However, the advancement in technology has brought both opportunities and challenges for PwC UK. AI has been reshaping the consultancy sector, automating tasks traditionally performed by junior staff, and potentially leading to job cuts. To meet this challenge, PwC has been investing in technology, launching Tech Catalyst, a dedicated unit for AI and technology innovation. The firm has also invested in staff tech skills through various initiatives, including the AI Elevation Studio.
Marco Amitrano, senior partner at PwC UK, stated that the firm has taken "decisive steps to position our business for sustainable growth." One such step is the introduction of a new hybrid working policy, encouraging staff to be together at least three days a week.
To further diversify its structure and create new career options, PwC UK has introduced a new managing director grade. Unfortunately, there are no publicly available search results that specifically name the individuals involved in this introduction.
The firm has also established a shadow leadership team to bring the voice and ideas of its people into board-level decision making. This move is part of PwC UK's commitment to pay and promotions, with overall spend on reward in line with last year. Despite the growth in profit per UK partner, averaging £865,000 (up from £862,000), the firm has been reducing roles over the last couple of years, including the cut of 123 partners in March.
The consulting and risk practices of PwC UK faced declining revenues, with each declining by 3%. Tom Rodenhauser, managing partner of Kennedy Intelligence, stated that some major strategy firms may have to reconsider how far they can go into the technology and operation space due to the investment requirements.
In conclusion, PwC UK has shown its adaptability in the face of industry changes, balancing growth, innovation, and financial stability. As AI continues to shape the consultancy sector, it will be interesting to see how PwC UK continues to evolve in the coming years.
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