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AI to Reshape Hiring at PwC, Chairman Says
Artificial intelligence (AI) could curb the number of entry-level graduates hired by PwC, the firm's global chairman, Mohamed Kande, told the BBC, though he stressed recent job cuts were unrelated to the technology. Instead, the company is struggling to recruit hundreds of AI engineers to meet demand, highlighting a broader shift in the professional services sector.
Graduate Recruitment Plans Scaled Back
PwC, one of the world's largest accounting firms, had previously aimed to hire 100,000 employees over five years-a target announced in 2021. However, Kande acknowledged that AI's rapid advancement has altered those plans. "When we made the plans to hire that many people, the world looked very, very different," he said. "Now we have artificial intelligence. We want to hire, but I don't know if it's going to be the same level of people-it will be a different set of people."
The firm hired 1,300 graduates in the UK and 3,200 in the US last year alone, but it has since abandoned long-term headcount expansion goals. In 2023, PwC cut over 5,600 roles globally, though Kande insisted these reductions were not driven by AI. Instead, he emphasized the firm's urgent need for AI specialists: "We are looking for hundreds and hundreds of engineers today to help us drive our AI agenda, but we just cannot find them."
AI's Dual Impact: Job Threats and New Opportunities
While AI threatens to automate tasks traditionally performed by junior consultants-such as data analysis and document review-Kande framed the shift as an opportunity. "It's an exciting time," he said, noting that AI could transform weeks of manual work into minutes. Yet, critics argue the technology may eliminate thousands of entry-level roles across professional services, particularly in auditing, consulting, and tax advisory.
PwC's UK leadership has already signaled reduced graduate recruitment, citing AI's role in "reshaping" positions. The firm now prioritizes advising clients on AI integration, a cornerstone of its future strategy, even as the technology disrupts its own workforce plans.
Global Economic Turmoil Boosts Consulting Demand
Beyond AI, PwC has benefited from broader economic uncertainty, Kande revealed. US President Donald Trump's sweeping tariffs and trade policies have spurred companies worldwide to seek guidance on navigating the volatile landscape. "We are receiving a lot of calls from many companies around the world asking how to navigate the current environment," he said. "It's been good for us. We need to remain relevant to our clients."
Evergrande Fallout: PwC Vows Reforms After China Suspension
Kande also addressed PwC's six-month suspension in China last year, following its role in the collapse of property giant Evergrande. Chinese regulators accused the firm of "covering up and even condoning" financial fraud tied to Evergrande's $300 billion debt crisis, which triggered a housing market meltdown. Kande, who took helm after Evergrande's bankruptcy, asserted that PwC has since overhauled its systems to prevent repeat failures.
"Let me tell you-we changed many of our people, implemented new quality management systems, and introduced new governance systems. My focus has been to make sure nothing like this ever happens again."
Mohamed Kande, Global Chairman, PwC
The firm now operates in China without restrictions, he confirmed.
What's Next for PwC?
As AI redefines professional services, PwC's strategy hinges on balancing automation with human expertise. While graduate hiring may decline, the firm's push for AI engineers underscores a pivot toward high-skilled roles-even as it grapples with the fallout from past missteps and a rapidly evolving economic climate.
