PWC reduces record numbers of British partners and stops a technological apprenticeship scheme

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The record number of PWC’s UK partners came out of business in 2024, while Big Four also stopped one of its apprenticeship programs, making its upper and lower ranks as progressed to protect profitability.

A total of 123 partners left Big Four last year, which is more than twice the annual average since it began to discover figures in the 2002 Corporate Podneci in the UK in 2002, according to an analysis of the Financial Times.

The grip on the partner’s numbers and hiring the younger comes while the company is fighting for the protection of its annual profit of close to one million pounds per partner, which hit a sharp slowdown after a pandemic demand in the consulting sector.

PWC stopped hiring for one of his apprenticeship schemes and broke through his previous practice, refusing to offer permanent jobs to one of the cohorts for graduation from the program this year, according to people who are familiar with these things.

The company has offered the apprenticeship of “Flying Start” technology since 2018, together with other holiday programs at school, but his website says that the scheme “currently does not accept applications”, while a person close to companies confirmed that he was “paused”.

The four -year scheme allows trainees to gain work experience with a diploma funded by PWC, who was one of the 10 best employers in the UK in 2023.

In previous years, students who received at least 2: 1 grade were offered a permanent job, according to people who are familiar with this issue. But PWC said 27 of 91 trainees for the completion of the program this year that they will not offer them permanent roles when they graduate.

The change was because of “market conditions and as we respond to changes in our clients’ needs,” the UE -Student said by FT.

Some students who have been denied a permanent role have missed the window to apply for other major four, because they expected PWC to offer them a job if they were getting the necessary grades, one trainee said.

Employment of graduates and school Leavers by the best accounting companies has been decaying in the last year. In 2024, PWC employed about 1,500 people from university, college and school, compared to 1,793 university and school slopes in the previous year. His rival KPMG hired 942 graduates and trainees last year, 33 percent less than a year before.

Other cost savings measures on PWC included a a circle of quiet releasein which staff offered voluntarily severance pay, but it instructed not to tell their colleagues why they were leaving and creating a new “General Director General” to retain an older staff without promoting to partnership.

PWC partners in the UK have been paid on average more than one million pounds in 12 months to June 2022, while companies have rushed to overcome their business models after a coined pandemic. But such has fallen into each of the last two years, an average of 2024. On average of £ 862,000, as higher costs and droughts have led to clients to reduce consumption.

Companies submitted, the Corporate Register in the UK show that the 74 PWC partner has only come out in December, compared to an average 12 output in the same month over the previous 21 years.

The exit of the December exit was followed by the entry of Marc Amitrans as a senior PWC partner and the Middle East in July. The second highest year for the partner’s exit was in 2016 when Amitran’s predecessor Kevin Ellis was elected and 95 partners left.

Partner numbers on PWC have increased over the years, especially after the British company combined with the Network in the Middle East in 2009.

PWC held the largest partner pool of Big Four. It has 987 ownership partners, which is less than 1057 in 2023, according to the House company. Ey and Deloitte have 873 and 757 ownership partners, while KPMG has 458.

Pwc refused to comment.