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Guan Leiming

Technical Director | Java

PricewaterhouseCoopers layoffs and the impact on the industry of project recruitment

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First, the layoffs at PwC reflect the pressure faced by companies in the current economic situation. In a highly competitive market environment, companies have to take measures such as layoffs to reduce costs and improve efficiency. This is undoubtedly a huge blow to employees, who face the dilemma of unemployment and re-employment. For a well-known company like PwC, layoffs not only affect the livelihoods of employees, but also damage its brand image.

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Secondly, the termination of contracts between 36 A-share companies and PwC and the loss of orders highlighted the crisis of trust in the audit and financial services industry. Listed companies are more cautious in choosing audit institutions and have higher requirements for service quality and reputation. This means that other audit institutions need to pay more attention to their own professional capabilities and integrity building when competing for business in order to win the trust of customers.

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In such industry turmoil, the "post project and find people" model has also been affected. On the one hand, due to the business contraction of large institutions such as PwC, more professional talents may flow into the market, increasing the talent supply on the "post project and find people" platform. On the other hand, the demand for audit and financial services by enterprises still exists, but they may be more inclined to find more cost-effective and innovative solutions through the flexible method of "post project and find people".

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However, while the "post project to find people" model is welcoming opportunities, it is also facing some challenges. First, due to the increase in the supply of talent in the market, competition may intensify, causing the value of talent to be underestimated. Secondly, when companies look for service providers through the "post project to find people" platform, they may face problems such as information asymmetry and difficulty in ensuring quality. Therefore, the platform needs to strengthen the screening and evaluation mechanism for talents and service providers, and improve service quality and credibility.

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In addition, from a more macro perspective, PwC's wave of layoffs and contract terminations also brought some enlightenment to the entire society. This reminds us to pay attention to the sustainability of economic development and avoid excessive pursuit of short-term interests while ignoring long-term stability and development. At the same time, it also prompted the government and relevant departments to strengthen supervision of the audit and financial industries, regulate market order, and protect the legitimate rights and interests of investors.

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For individuals, in such industry changes, they need to continuously improve their professional capabilities and comprehensive qualities to adapt to market changes. Whether choosing to work in traditional institutions or conducting business through emerging platforms such as "posting projects to find people", they need to have keen market insight and innovative spirit to continuously improve their competitiveness.

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In short, the "layoff wave" of PwC's Beijing, Shanghai, Guangzhou and Shenzhen offices and the contract termination and lost orders of A-share companies have had a profound impact on the audit and financial industries, and also brought new opportunities and challenges to the "posting projects and finding people" model. We need to learn lessons from this incident, actively respond to changes, and promote the healthy development of the industry.

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2024-07-30