The rapid expansion of artificial intelligence may ultimately reduce opportunities for entry-level graduates, the global chairman of accountancy giant PwC has said, warning of major shifts in traditional hiring patterns across professional services firms.
In an interview with the BBC on the sidelines of a business summit in Singapore, PwC Global Chairman Mohamed Kande said the firm anticipates that AI tools will increasingly replace work typically done by junior recruits, but stressed that the technology was not responsible for recent job cuts at the company.
“The growth of artificial intelligence may eventually lead to fewer entry-level graduates being hired,” Kande told the BBC.
At the same time, he said PwC is actively trying to recruit hundreds of AI engineers but is struggling to find specialised talent.
Layoffs continue to shake global industries
PwC’s comments come against the backdrop of widespread layoffs across major global corporations as businesses battle rising operational costs, tariff pressures and restructuring demands. Analysts say many firms are now in a “no-hire, no-fire” freeze, limiting new recruitment and focusing only on specialised roles such as AI.
Amazon recently said it will cut about 14,000 corporate jobs, around 4% of its workforce, as it channels investment into AI technologies. UPS has disclosed around 48,000 job cuts this year as part of turnaround efforts, while Target has eliminated about 1,800 corporate roles in global restructuring.
Major layoffs:
- Verizon has begun laying off more than 13,000 employees
- General Motors moved to cut 1,700 workers at plants in Michigan and Ohio
- Paramount Global plans to axe about 2,000 jobs, roughly 10% of its workforce
- Nestlé said it will cut 16,000 jobs worldwide over two years
- Lufthansa Group expects to shed 4,000 jobs by 2030
- Novo Nordisk is cutting 9,000 positions
- Microsoft has removed 15,000+ jobs this year across two rounds
- Intel is shrinking to 75,000 core employees, down from 99,500