Here's a breakdown of what the plan will entail, per the FT:
The announcement marks the firm's "biggest strategic shift" since it bought strategy consultancy Booz & Co back in 2014. Clients are increasingly "scrutinizing the social impact of the businesses they back and its effect on their financial returns," the FT explained. In other words, PwC's announcement will likely be followed by similar publicly-touted investments in ESG-related know-how by the other Big 4 firms, not to mention other consultants like McKinsey, Bain and BCG. The first of those - McKinsey - is already struggling with a bit of a reputational problem from its role in the opioid pandemic, along with its work for foreign governments like the Saudi royal family and the CCP. They definitely can't afford to underplay it on ESG.
Already, the other Big 4 firms (Deloitte, EY and KPMG) are raising sustainability issues within longstanding practices such as in their audit and assurance business. Sources say ESG is being given "greater prominence within their businesses." EY has assigned Steve Varley, the former head of its UK business, as its first-ever global vice chair for sustainability.
PwC is the new name for the scandal ridden accounting firm. They still are involved in much corruption all over the world.
Google: pwc scandal
So discrimination is now OK?
I thought it was outlawed under the 1964 Civil Rights Act.
Oh Wait! Sandy Baby O’Connor...whose family owns thousands of acres in Occupied Mexico just outside of Bowie, Arizona...sez itz cool for “another 25 years or so” which I assume will just get kicked down the road again in 25 years when things don’t work out for the beneficiaries...
Waiting patiently for AG Garfinkel’s Doh-J to take them all to court over their discriminatory hiring practices!
The firm said it wanted to focus more on environmental, social, and governance advice to clients.
I guess engineering, computer science, and business are no longer valid workforce prerequisites.
I thought math was racist
Why not more? 50,000? 75,000? 100,000? Only seems fair in today's society.
Because the shade of someone’s skin makes them qualified for the job.
But when all is said and done will they be able to count?
” focus PwC on giving clients more environmental, social, and governance advice”
While China trains 600,000 engineers each year, we are directing people towards useless jobs like this.
Why are they hiring ‘extra’ people? I would think the most efficient way to run a business is to hire just the right number to do all the work. Extra people are just a drain on the bottom line.
Either that or the person who wrote this doesn’t understand the definition of extra.
Boy, if I was looking for a stock to short, this new PWC business model to hire the least and the dullest to substantially staff their company sure provides me incentive to short it.
“Latinx” - term of the woke whites for Latinos.
shareholders must be thrilled...
They can recognize a gravy train when they see one. We hired PwC for a software implementation. They “backed up the school is” with H1Bs, only two of which were worth their airfare. Something tells me this new plan will be even worse. I wonder if their plan includes senior citizens.
Since PwC is going to train and employee people based upon their color and not their capacity, I have sent a note to my accountant to discontinue any working relationship with them and their partners. I want the best working for me and not a group of second stringers just hoping to get by with the lesser of excelling people by using a employing practice not based upon getting the best they can. Business doesn’t believe in diversity and the people that excel in business don’t care about it.
wy69
I and all my friends and acquaintances find the term “Latinx” condescending and racist.
What is “ESG”?
What the hell is PWC??