PwC is overhauling its advisory arm and hiring for thousands of roles to meet increased demand for advisory and consulting services.
The Big Four firm confirmed the restructuring to Business Insider on Tuesday. PwC's advisory arm, which previously consisted of four platforms, or advisory groups, will consist of eight under the reorganization, which takes effect July 1. Those advisory platforms are:
- Deals
- Cyber Data and Tech Risk
- Risk & Regulatory
- Strategy
- Commercial & Service Excellence
- Business & Supply Chain Operations
- Digital Core Modernization
- Cloud, Engineering, Data and Analytics
A spokesperson for PwC told BI the eight platforms will offer more industry-specific solutions to meet client demand. They also said managed services, which can involve handling or assisting with core business functions like payroll or HR, was previously its own platform, but will now be embedded in each.
The Wall Street Journal previously reported the changes.
"PwC Advisory is excited to announce the expansion of our services to better support our clients and meet evolving market demands," Tyson Cornell, PwC US advisory leader, said in a statement provided to BI. He said the reorganization was "being approached from a position of strength."
"With the market rapidly changing, we are focused on how we evolve, concentrate our efforts, and utilize AI and technology to empower both our business and our clients," Cornell said.
A spokesperson for PwC said the reorganization would not involve layoffs and that the company is hiring for thousands of roles across its advisory business to meet the needs of clients.
The changes come after the consulting industry experienced a slowdown in demand in 2023 and 2024, with some firms reporting increased demand this year.
In September 2024, PwC conducted its first layoffs since 2009, affecting around 1,800 employees or 2.5% of its US workforce, which includes around 75,000 people. The areas of the company most impacted were advisory and products and technology.
PwC said last month it was cutting an additional 1,500 jobs, citing a lack of attrition. Those cuts affected its audit and tax businesses.
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