PwC Restructuring Positions Firm to Tap Tax Demand, Grow Profits

PwC LLP’s decision to end its experiment as a two-segment firm reflects pressure on the firm to address competitive labor trends and market conditions squeezing the accounting industry.

Incoming Senior Partner Paul Griggs began to lay out his vision for the US firm last week, exerting his influence even before the start of his term that begins in July. Reinstating PwC’s tax practice to its traditional spot among the firm’s core offerings tops his to-do list.

The US firm said last week that it would scrap a 2021 restructuring that had packaged the firm’s compliance work into a single ...