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PwC's growth stutters as it cuts head count and falls behind its Big Four rivals

PwC's global revenue growth slowed to 2.9% in its 2025 financial year, marking a third consecutive year of decline and placing it behind rivals Deloitte and EY. The firm also cut 5,600 jobs globally and reduced graduate hiring, indicating a shift from its previous growth strategy. This reflects the impact of economic uncertainty on consulting demand and the need for firms to adapt their structures and pricing models in response to AI disruption.

Executive views on policy, risk, and growth

A PwC survey indicates that US executives have adapted to disruption, taking strategic actions like increasing AI investment, strengthening risk management, and adjusting trade strategy. However, these actions are becoming "table stakes," meaning they no longer provide a competitive advantage unless executed with superior differentiation. The report highlights a gap between executive confidence and clarity, with many struggling to translate uncertainty into business decisions due to a lack of data.

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2026 AI Business Predictions

PwC predicts that in 2026, companies will shift towards a disciplined, top-down approach to AI investment, focusing on high-ROI workflows rather than scattered experiments. The report emphasizes the rise of "AI generalists" in the workforce, with AI agents taking on specialized tasks, leading to redesigned roles and increased workforce flexibility. It also highlights the importance of real-world benchmarks, clear metrics, and robust governance for successful AI adoption and value creation.