Pricewaterhouse Coopers UK (PwC) has announced the creation of 800 new jobs, including some in IT. The professional services company made the announcement despite unveiling a fall in pre-tax profit of 5.6 percent to £642 million in the year to June 2010, compared with last year. The company’s turnover, however, grew four percent from £2.25 billion to £2.33 billion.
The company’s chairman and senior partner, Ian Powell, described the results as good "given the market conditions".
He added: “We are under no illusion that there remain challenges ahead. However, in the next 12 months, we intend to create 800 new jobs across our businesses to enhance the services and value we offer to our clients.”
Meanwhile, the Scottish jobs market is continuing its momentum.
As well as HP’s announcement earlier this month of 700 new jobs in its Scotland base, Barclays revealed that it plans to create 600 new jobs in the region as part of the establishment of a global shared services hub. Unfortunately, however, a spokesperson for the bank said that only a “handful” of these would be in IT. Most of the new roles will be in trade processes and back office functions.
Barclay’s move follows that of insurance and pension firm Standard Life, which recently announced 600 redundancies, with IT staff being hardest hit.
Although the Standard Life said that it would also create 100 new jobs, 100 of the redundancies are expected to be IT contractors, as the company has decided not to renew certain IT projects.
Standard Life’s Edinburgh head office will be most affected by the cuts, but jobs will also go from sites in Glasgow, other regions in the UK and overseas. It started a 90-day consultation process last Wednesday, and the redundancies will take place over the next 15 months.
Earlier this year, Standard Life raised its cost cutting targets by nearly half, to £350 million by 2012, as it reported strong progress on a technology and process overhaul.
The company has made a number of IT and process changes in recent years. In 2009, it adopted Oracle Identity and Access Management in an attempt to improve customer and partner access to its online services. Using the system globally would reduce costs as well as improve security, it said at the time.
The insurer has also developed its service-oriented architecture, which in the three years to 2007 saved £16 million in development costs. Improvements to document management with the upgrade of its scanners have also saved £1.1 million.