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PwC cut 1,500 Middle East staff in Feb 2025 due to Saudi PIF contract bans and leadership issues, but maintains long-term regional growth plans.
PwC has cut around 60 partners and 1,500 staff in its Middle East operations starting February 2025, following a Saudi Arabia PIF ban on new advisory contracts due to strained relations and a failed hire attempt involving Neom’s audit chief.
The firm reassessed its regional strategy, leading to leadership changes with Laura Hinton of PwC UK set to co-lead the region from October 2025.
Job reductions mainly affected consulting roles tied to major PIF projects like Neom, though overall headcount remained stable thanks to new hires in high-demand areas and continued recruitment of junior staff.
Despite the cuts, PwC reaffirmed its long-term growth plans in the region, having promoted 62 new partners in June.
The firm cited broader economic challenges in its UK results, while the Middle East operations, based in the UAE and Saudi Arabia, still employ about 11,000 people across 500 partners.
PwC recortó 1,500 empleados de Medio Oriente en febrero de 2025 debido a las prohibiciones de contratos de PIF saudíes y problemas de liderazgo, pero mantiene planes de crecimiento regional a largo plazo.