PwC India's Growth Strategy: Adding 30,000 Jobs Despite Global Layoffs
On 6th February PwC India announced that they will add 30,000 more jobs despite several organizations including Amazon, Microsoft, and Goldman Sachs handing out the pink slips in 2023.
- 2023 didn’t start on the right foot for many employees around the world.
- Several organisations including Amazon, Microsoft, and Goldman Sachs handed out the pink slips.
- However, on 6th February PwC India announced that they will add 30,000 more jobs in India.
PwC India To Create More Career Opportunities
PwC has steadily expanded its geographical footprint in India over several years.
With a current workforce of over 50,000 employees, PwC India announced its plan to grow the talent pool to 80,000, over the next 5 years.
PwC India and PwC US established a mutual partnership to accelerate growth, expand client relationships, and improve service quality in India.
PwC India is also investing strategically in response to the constantly changing business environment and the expanding needs of customers and other stakeholders worldwide.
This includes acquiring and continuing to engage in processes such as managed services, contract compliance, captive advisory, and product creation.
Tim Ryan, the Chair and Senior Partner of PwC US, mentioned, “Our enhanced collaboration between PwC India and PwC US will further accelerate the growth of our global talent footprint and help deliver greater value to our clients. It will also create more opportunities for our people to develop deep technical acumen — all underpinned by quality.”
PwC India already established three new offices in Bhubaneswar, Jaipur, and Noida in 2022 alone to employ local, highly trained employees.
What Does PwC Look For In Candidates?
With over 52K net headcount additions in technology in FY2022, the BIG 4 emerged as a strong contender for top tech talent absorption.
In a conversation with The Finance Story in 2022, Joydeep Roy - Executive Director of Human Resources at PwC India said, “While hiring in conventional areas will continue, the focus, however, will be on applied sciences, design thinking, treasury, sales force, arts, humanities, ESG, cyber, blockchain, data and analytics, and other areas that will gear us up to become fit for future organisation.”
He further adds that they will hire across all our functions such as Audit, Tech, Assurance, Direct tax, Indirect tax, M&A, Financial Services, Corporate finance, FinTech, Risk Consulting, Management Consulting, Forensics, and Cyber security.
However, technology, integrated platforms, value-led ERP, Data Analytics, and cyber and Forensics are likely to have a larger focus.
PwC India History
PwC India is the Indian branch of the global professional services firm PricewaterhouseCoopers (PwC). The firm was established in 1993 due to a merger between two Indian firms, Price Waterhouse and Coopers & Lybrand.
Since then, PwC India has become one of the leading professional services firms in India. It provides a range of services including audit and assurance, tax, consulting, and advisory services to clients across various industries.
In 2007, PwC India underwent a rebranding exercise and changed its name from PricewaterhouseCoopers India to PwC India.
In 2010, the firm became embroiled in a major corporate scandal involving the Indian company Satyam. This resulted in PwC India being banned from auditing listed companies in India for two years. The ban was lifted in 2011.
Today, PwC India has a strong presence in the country. The firm continues to expand its service offerings and explore new opportunities to support its clients in India and around the world.
The Big 4, namely KPMG, Deloitte, EY & PwC, are global accounting networks and some of India's top places to work.
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