PwC has warned its 26,000 UK staff that it will pay lower bonuses in some divisions, hand out smaller salary increases and curb a practice of half-day Fridays as the Big Four firm battles “challenging market conditions”.
Ian Elliott, chief people officer, wrote in a memo that “our bonus pool will be similar to last year” but “a number of areas” would see “reductions in average bonus per head”, while some would also see lower pay rises.
PwC has also curtailed a pandemic-era perk of allowing staff to take a half-day on Fridays during the summer, reducing the benefit from eight weeks last year to six weeks. The policy was in place for 12 weeks in 2022.
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