Big Four

PwC to add 100,000 staff with £8.5bn global investment

The plan is reportedly designed to capture the growing market for environmental, social, and governance advice

PwC is reportedly set to increase its global headcount by 100,000 over the next five years as the group invests $12bn (£8.5bn) in recruitment, training, technology, and deals.

According to the Financial Times, the plan is designed to capture the growing market for environmental, social, and governance advice.

The strategy follows $7.4bn (£5.25bn) of investments at the Big Four firm since 2016, which have grown the group’s annual revenues by 20% to $43bn (£30.5bn) in the period.

It will also bring the number of global staff members at PwC to roughly 384,000, adding to the group’s 25% employee expansion in the past five years.

Bob Moritz, global chair of the company, told the publication that PwC was “going to massively invest to redefine itself and rebrand itself to make sure we’re valuable for what our clients need and what the world needs”.

Included in the investment is a $3bn (£2.13bn) plan to double the group’s Asia-Pacific business, as well as the launch of “trust leadership institutes” designed to train clients across the US and Asia in business ethics as ESG.

A $1bn (£709m) investment in the quality control and automation of audits has also been revealed, as well as $125m (£88.6m) to find 25,000 jobs for students within racial and ethnic minorities over the next five years.

Accountancy Today has contacted PwC for further comment.

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