PwC to Halve Consultant Bonuses in Switzerland

PricewaterhouseCoopers is planning to reduce bonuses by half for its consultants in Switzerland to cut costs. The firm communicated the decision internally during recent town-hall meetings, though it has not yet issued written notification to staff.

Company leadership attributed the cuts to a challenging economic environment and the increased integration of artificial intelligence into professional workflows. The firm is facing specific headwinds following the loss of Roche Holding AG as a client and the acquisition of Credit Suisse by UBS Group AG, a move that eliminated a major independent financial client for the consultancy.

PwC stated that layoffs are not currently under consideration. The bonus reductions reflect a broader trend among global consultancies experiencing slower demand for professional services and pressure to maintain profitability amid rapid technological adoption.