Key facts
- PwC UK has reduced its partner ranks.
- PwC UK has paused its tech apprenticeship program.
- The firm saw 123 partners depart in 2024.
- The number of partner departures in 2024 is more than double the average since 2002.
- Recruitment for the "flying start" tech apprenticeship scheme has been halted.
- The cuts are a response to a sharp decline in consulting demand.
- The aim is to protect partner profits.
PwC UK has implemented significant reductions in its partner ranks and paused its tech apprenticeship program in response to a sharp decline in consulting demand. The firm experienced a departure of 123 partners in 2024, a figure more than double the average number of partners leaving annually since 2002. This strategic decision is intended to safeguard partner profits amidst the prevailing slowdown in the consulting sector. Furthermore, PwC UK has halted recruitment for its "flying start" technology apprenticeship scheme. The firm's actions reflect broader challenges within the consulting industry, where demand for services has notably decreased, impacting revenue streams and leading to internal restructuring to maintain financial stability and profitability for its remaining partners.