NZ $2b accounting sheds 1000 jobs in slump

Source: nbr.co.nz

TL;DR

The story at a glance

NBR's The Accountants 2026 series, by Hamish McNicol and Kate McVicar, examines New Zealand's 15 largest accounting firms including Deloitte, PwC, KPMG, and EY. It highlights job cuts and sluggish growth tied to the 2025 recession after earlier staffing shortages. The report comes as the fifth annual instalment, timed with release of 2025 financial year data.[[1]](https://www.nbr.co.nz/nbr-focus/the-accountants-2026-2b-industry-sheds-1000-jobs-in-two-years/)

Key points

Details and context

The article opens NBR's annual series on New Zealand's accounting sector, now valued over $2 billion, by detailing firm sizes, revenues, and headcounts from 2025 financial year reports. It contrasts recent job losses with pre-recession hiring struggles, blaming a tough economy for reduced client demand and low growth.

Visible text notes most firms posted single-digit revenue increases despite overall 4% rise, suggesting uneven performance across the Big Four and mid-tier players. The paywall cuts off deeper analysis, but related series pieces discuss AI adoption and sector challenges.[[2]](https://www.nbr.co.nz/nbr-focus/the-accountants-2026-reconciling-with-ai)

No external reports from sources like Reuters or Bloomberg detail the exact 1000-job figure, but NBR promotions and podcast tie it to two-year trends in the firms studied.

Key quotes

None visible in accessible article text.

Why it matters

New Zealand's accounting sector underpins business compliance, audits, and advice, so contraction signals broader economic weakness hitting professional services. Firms and workers face pressure, with slower hiring and AI potentially accelerating changes for employees and clients seeking cost efficiencies. Watch firm-specific 2026 financials and AI uptake, as recovery depends on economic rebound whose timing remains unclear.