PwC unveils consultancy sell-off plan
PricewaterhouseCoopers this week confidently told of a three-pronged strategy to separate from its consultancy arm, declaring it could do a deal 'whenever it suits us'.
PricewaterhouseCoopers this week confidently told of a three-pronged strategy to separate from its consultancy arm, declaring it could do a deal 'whenever it suits us'.
The Big Five firm recently announced it was resigning as the auditor of Accenture after the consultancy firm told of the ‘continuing competitive situation’ with PwC Consulting. Accenture had expected PwC to sell off its consulting arm to Hewlett Packard last year.
However, PwC this week said it was ‘on track’ to separate from its consulting arm by one of three means, ‘to be determined’.
A spokesman for the PwC Consulting, said: ‘The three possibilities include a third-party transaction, strategic investment or an initial public offering. We are confident we are able to deliver the service our clients want, our growth and repeat business demonstrate that. Everything is in place including the management board.’
Since the failure of PwC to sell the division to Hewlett Packard last November the consulting arm has been forced to carry out two rounds of UK job cuts, the most recent being 330 voluntary redundancies announced last month.
Links
The numbers you crunch tell a story. Your expertis...
23yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleGlobal spend on accountancy outsourcing up by 40% in the space of five years. News comes as accountancy outsourcing specialist AdvanceTrack reports en...
View articleFollowing a profitability review, Deloitte has decided to scale back its UK deals business due to lower returns. This strategic shift could lead to jo...
View articleUK-based Dow Schofield Watts (DSW), a mid-market professional services network, announced the creation of a new division called DSW Principal Partners...
View articleEY has been undergoing significant cost-cutting measures and streamlining its operations since the abandonment of Project Everest. The firm has made t...
View articleTransitioning from an accounting firm to a consultancy model is only one part of the puzzle. The next, equally vital piece is making the market aware ...
View articleThis framework, while providing a top-line view, underscores the importance of strategic vision, operational excellence, and the spirit of continuous ...
View articleLooking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...
View articleLast month it was reported that Deloitte would be cutting approximately 1,200 jobs in the United States, making it the latest of the Big Four accounti...
View article