In May 2025, PwC laid off 1,500 US employees, about 3% of its American workforce, following 1,800 layoffs in late 2024. Officially attributed to “overcapacity” and “low attrition,” these cuts starkly contrast PwC’s 2021 pledge to add over 100,000 new jobs globally in critical areas like cybersecurity, cloud, and transformation.
Yet, while the US workforce shrinks, PwC is aggressively expanding in India—building tech hubs and shifting entire service lines (technology, audit, tax, consulting) to cities such as Hyderabad, Bengaluru, and Mumbai. These moves focus on cost-cutting through offshoring and exploiting India’s government-backed academic partnerships that funnel pre-trained talent directly to PwC’s operations. Meanwhile, many US employees faced sudden, impersonal layoffs via last-minute Teams meetings, even some on promotion tracks.
Financially, PwC’s 2024 revenues hit $55.4 billion, with the US as the largest contributor ($24.3 billion). Despite this, revenue from Asia-Pacific (including India) declined by 7.1%, yet PwC invests heavily there, leveraging cheaper labor and regulatory advantages.
PwC’s own report on “global workforce migration” underscores its strategic bet on India as a global labor hub—essentially using US-generated revenue to finance offshoring that displaces American professionals.
This pattern of layoffs paired with foreign investment reveals a broader corporate trend of labor arbitrage—hollowing out American jobs to benefit lower-cost international centers. PwC’s actions reflect a corporate loyalty shift, sacrificing US workers for efficiency and profit.
Unless addressed, this extraction model threatens permanent structural damage to the US labor market and sets a precedent for other multinationals.
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