PwC UK has reported flat revenues and said “tough” job cuts are coming amid a marked slowdown for the Big 4 firm.
Total revenue for the UK firm (which includes the Middle East and Channel Islands) rose by 0.4% to £6.35bn in the year to 30 June 2025. This is stark contrast to the growth of between 9-16% in the previous three years.
You can see the jobs cuts staff number. Last year’s report said staff equalled 36,000. This year they total 33,700. More job cuts are now expected.
The report explains that as part of PwC’s transformation it took tough decision to reduce roles in some areas, but has maintained its commitment to pay and promotions. Overall spend on reward is in line with FY24.
Cost management and operational transformation helped profits rise from £1.14bn a year ago, to £1.37bn this year.
Partners pay held up well, where the average pay was £865,000 this year, up £3,000 on last year, but down on the record £920,000 achieved in 2022.
