The UK's Big Four accountancy firms, Deloitte, EY, KPMG, and PwC, have substantially reduced graduate recruitment as artificial intelligence begins to automate junior tasks. Over the past two years, these firms have cut hiring by up to a third, particularly KPMG, which decreased its graduate intake by 33%. As the firms pivot towards cost-saving strategies amid post-Covid economic challenges, they are also investing in AI and offshoring work to lower-cost locations. Consequently, job advertisements in accountancy have plummeted by 44% year-on-year, signifying a drastic shift in entry-level job opportunities.
The Big Four are looking at AI very seriously to replicate junior work more cost-effectively, shifting focus from recruitment to automation for cost savings.
Graduate job adverts in accountancy have dropped 44 per cent year-on-year, reflecting a significant pullback in hiring amidst the industry-wide pivot towards cost-cutting.
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