"The UK branch of the Big Four accountancy firm PwC confirmed to Business Insider that it has lowered entry-level recruitment this year. PwC will take on 1,300 entrants to its graduate and school leaver programmes, compared to 1,500 last year, the firm said. The news was first reported in an op-ed published in The Sunday Times by Marco Amitrano, PwC's UK chief. "PwC will always be a large employer and training ground for young people in the UK," but the impact of AI and a sluggish economy are changing the firm's hiring practices, Amitrano wrote."
"The UK's economic slowdown and the resulting drop in investment, hiring, and dealmaking in the UK are the "single biggest factor behind a lower graduate intake at PwC this year," Amitrano said. AI is also reshaping roles, Amitrano said. For now, the development of new tools and investment in skills was offsetting more serious disruption to jobs, but that balance was likely to change in the future, he said. The PwC chief said consistent policy, regulatory reform, and a more predictable tax environment would help create jobs. He was also optimistic about AI's potential, saying the technology could create new industries if there was "sustained and serious investment in tech, infrastructure, and training.""
PwC UK has lowered entry-level recruitment to 1,300 places for its graduate and school leaver programmes, down from 1,500 last year. The firm cites the UK economic slowdown, reduced investment, and decreased dealmaking as the primary drivers of the cut in graduate intake. AI is reshaping roles, with current investment in tools and skills offsetting disruption for now but posing longer-term change. Entry-level hiring is also set to slow at PwC US, with plans to reduce graduate hiring over coming years. The firm says consistent policy, regulatory reform, predictable tax settings, and sustained investment in tech, infrastructure, and training could support job creation.
Read at Business Insider
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