PwC US reorganizes advisory business
PwC is changing the organizational structure of its advisory business, according to a report from The Wall Street Journal (WSJ).
The reorganization will split the advisory business into eight divisions from the current four, while also grafting managed services onto each division instead of keeping the function separate.
The current four divisions are deals; cyber, risk & regulation; technology & business modernization; and managed services.
Cyber, risk & regulation will split into risk & regulation and cyber privacy & tech risk.
Tech transformation will split into five divisions: front office consulting (including marketing and customer service); industry-specific strategy; supply chain; traditional finance & HR; and cloud engineering & data analytics.
The deals division will remain the same.
PwC told WSJ that the changes are aimed at responding to client demand for more specialized help.
The Big Four firm said no layoffs are planned as part of the reorganization, but instead it will be hiring for thousands of roles because of optimism around recovering demand for certain advisory services.
PwC US’ advisory business has approximately 36,000 people, including approximately 15,000 based in India.
In July 2024, the firm returned to its traditional three-business structure of audit, tax, and consulting. PwC had previously, in a 2021 “trust solutions” rebranding effort, combined its tax reporting and accounting business into a single “trust solutions” line and merged tax consulting with the consulting business line.
PwC US in September 2024 laid off 1,800 people – or 2.5% of its 75,000-person workforce – primarily in advisory and products and technology operations. In May, the firm cut an additional 1,500 jobs, primarily in audit and tax.
