Apart from what’s in the AFR, any immediate impacts within PwC that are being felt??

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I believe that PwC is trying to keep some business units alive while more or less divesting others in Canberra. Promotions and bonuses are both very scarce. Government is not allowed to automatically renew any PwC contracts. There is a pall over all the Big 4 right now.

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Yeh I believe the fall out will be massive across all big firms.

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Huge update today - PWC Australia have appointed a new CEO and government consulting business is being sold for $1 to Allegro funds.

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Yeah massive development. Allegro seems to specialise in turnarounds, so I’m keen to see how that goes.

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Haven’t they been banned from government contracts?

Haven’t seen the ban confirmed yet

Yeh it’s not good, the fact a conversation is being entertained regarding the sale of the gov business to allegro funds - demonstrates the immediate and long term impact.

I feel sorry for the grad-manager cohort in Canberra, who have no influence over the account, and will struggle to find new jobs because of the ‘PWC’ name on their CV currently.

Canberra is its own funny little ecosystem; the Canberra bubble that people speak about is very real. There are plenty of good firms that will take ex-PwC people and wouldn’t hold their employment with PwC against them. Anyone facing difficulty can PM me and I will get them a role.

I suspect that the ex-Booz parts of the business are being packaged up for sale. They have a legitimate competitive advantage in that space and it is pretty much a standalone business unit.

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