Abu Dhabi, September 22: PwC (PricewaterhouseCoopers), a UK-based consulting firm, has laid off thousands of employees and cut ties with partners following a breakdown in relations with Saudi Arabia's PIF (Public Investment Fund). The PwC layoffs have reportedly affected 1,500 employees and 60 partners. The company has previously announced several rounds of job cuts in various countries amid global challenges.

The reports said that the layoff decision was taken by PwC as Saudi Arabia's sovereign fund faced major consequences for its operations in the region. From February, PIF had imposed a ban on PwC for a year, crippling its consulting and advisory services. The UK-based consulting firm had already faced challenges in the Middle East. TCS Layoffs Continuing Beyond 12,000 Job Cuts? Report Says Over 30,000 Employees Fired So Far, Number Could Reach 1 Lakh in 2026.

PwC Layoffs Announced: Check Details

As per reports, the layoffs were initiated by PricewaterhouseCoopers around February this year, due to slow demand for advisory services in Saudi Arabia. The workforce reduction amid restructuring affected the "rank-and-file" employees of the company as well as the partners. Despite the job cuts across the Middle East, the compensation of the business in the region and the home country remains unchanged. Fiverr Layoffs: International Freelancing Major To Cut 30% of Workforce Amid AI Adoption and Business Transformation, Announces CEO Micha Kaufman.

Reports mentioned that the PwC layoffs affected some partners in the United Kingdom and Middle East regions as the company continued its internal restructuring efforts. Amid this, the revenue growth of the consulting firm has slowed to 6.35 billion GBP compared to last year's 6.33 billion GBP. The company sees a stable market in the UK with 4.2 billion GBP. On the other hand, the Middle East market generated 1.98 billion GBP in revenue, as per a report by ET Now.

TruLY Score by LatestLY
Rating:3

TruLY Score 3 – Believable; Needs Further Research | On a Trust Scale of 0-5 this article has scored 3 on LatestLY, this article appears believable but may need additional verification. It is based on reporting from news websites or verified journalists (ET Now), but lacks supporting official confirmation. Readers are advised to treat the information as credible but continue to follow up for updates or confirmations

(The above story first appeared on LatestLY on Sep 22, 2025 12:07 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).