PricewaterhouseCoopers (PwC) is on course to significantly restructure its U.S. advisory division, expanding its operational segments from four to eight, according to reports from The Wall Street Journal. This transformation, scheduled for implementation on July 1, 2025, comes in response to a notable resurgence in demand for advisory services across various sectors.
The restructuring will integrate managed services within each advisory division rather than maintaining it as a separate entity. This strategic shift aims to provide a more unified support system for clients in critical areas such as information technology and human resources. Currently, PwC’s advisory divisions encompass deals, cybersecurity, risk and regulation, technology, and business modernization, alongside managed services. However, under the new structure, the existing cybersecurity, risk, and regulation division will be split into two distinct areas, while the technology transformation division will expand into five specialized platforms.
PwC has emphasized that these changes are designed to better align with client needs for specialized support. The firm has stated that no job cuts are expected as part of this restructuring initiative. Instead, PwC is actively seeking to fill thousands of advisory roles. This recruitment drive is particularly noteworthy following a series of layoffs in the past year, including the elimination of approximately 1,800 positions last autumn—marking the firm’s first formal job reductions since 2009. In addition, the recent workforce adjustment in May 2025 saw around 1,500 positions cut, primarily affecting the auditing and taxation sectors.
The impetus behind this restructuring can be traced back to a broader strategy led by U.S. leader Paul Griggs, aimed at enhancing operational efficiency and responsiveness to market demands. Griggs has previously undertaken measures to streamline processes and revert the U.S. unit to three business lines, reinstating tax as a separate entity within the organization. This strategy is not only about achieving cost-efficiency but is also focused on bolstering PwC’s consulting capabilities—particularly in high-demand areas such as e-commerce—through partnerships with leading tech firms like Microsoft and Salesforce.
The recent transformation signals PwC’s commitment to dynamically adapting its service offerings amid an increasingly competitive landscape. The firm’s global advisory revenue experienced a modest increase of 3.1% for the fiscal year ending June 2024, representing the slowest growth rate since 2020. This stagnation underscores the importance of the impending restructuring as PwC seeks to enhance its market positioning.
Furthermore, the integration of managed services with the eight new platforms is expected to allow for deeper collaboration and the sharing of expertise across advisory divisions, fostering a more cohesive operational framework that can respond to client needs effectively. Tim Canonico is scheduled to take over leadership of managed services from the retiring Nikki Parham, marking a new phase in the department’s evolution.
Overall, the forthcoming restructuring of PwC’s U.S. advisory division reflects a concerted effort to enhance its service offerings and address the diverse and complex demands of today’s clients. By recommitting to industry-specific segments and fostering collaboration across its platforms, PwC aims to solidify its foothold in the market and ensure its advisory services are more responsive and impactful in the years to come. The firm’s strategy to focus on individual performance further reflects its intention to cultivate a high-performance culture within the revamped advisory division.
As the restructuring progresses, the financial and operational implications for PwC will be closely scrutinized not only by clients but also by industry observers, who are keen to see how these changes will position the firm in a shifting landscape that increasingly prioritizes specialized advisory services. In this context, PwC’s ongoing efforts to adapt and realign its capabilities are indicative of a broader trend within the financial consulting sector, where agility and expertise are paramount in meeting client expectations.