PwC is cutting bonuses (in some areas) and reducing the number of half-day Fridays as the Big 4 firm fights a slowdown in business.
Half-day Fridays were introduced post-pandemic for the summer months. However, chief people officer Ian Elliott has now told staff that this perk will only be available for six rather than the current eight weeks. At its height the half-day Friday ran for 12 weeks. And, it could be argued that this is actually how long a British summer is now!
His memo said; “Given market conditions, it’s especially important that we carefully balance [summer working hours] with the needs of our clients, teams and work commitments, which should continue to take priority.”
Elliot also said that while the bonus pool remains the same who gets the payout will change. He revealed that the payout s will be reduced in a number of areas.
