PwC is cutting the number of grads it hires. The chief of its 25,000-person UK business explained why.

Core Insights - PwC is reducing entry-level recruitment in both the UK and US due to economic factors and the impact of AI on job roles [2][3][7] Group 1: UK Recruitment Changes - PwC UK will hire 1,300 graduates and school leavers this year, down from 1,500 last year [3] - The UK economic slowdown and decreased investment are the primary reasons for the reduced graduate intake [4] - AI is reshaping job roles, with current investments in skills offsetting more significant disruptions, though this balance may change in the future [5] Group 2: US Recruitment Changes - PwC US plans to cut graduate hiring by one-third over the next three years [8] - The decision to slow down hiring is linked to transformation efforts, AI impact, and offshoring strategies [8] - The global labor market is increasingly competitive, prompting PwC to consider a global approach to maintain competitiveness [9] Group 3: Industry Context - Other firms, such as Deloitte UK, have also reduced their graduate and apprentice hiring in recent years, indicating a broader trend in the industry [11]