Quick Summary
KPMG UK has informed nearly 600 employees in its audit division that their roles are at risk as part of a proposed restructuring exercise. According to sources familiar with the matter, affected employees have been notified through an internal memo that their positions may be made redundant, subject to a formal consultation process. If the proposal moves forward, the firm could see up to 440 employees exiting the business. Reason Behind the Move A spokesperson for KPMG stated that the decis
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FAQ :
Up to 440 audit roles are at risk at KPMG UK.
The proposed job cuts are due to changing market conditions, unusually low attrition rates within certain audit areas, and a need to rebalance the workforce to align with current demand.
The proposed job cuts are expected to primarily impact assistant managers, particularly those who are qualified accountants.
The proposed layoffs could affect around 6% of KPMG UK's 7,100 audit employees.
Yes, the broader consulting and professional services industry is undergoing cost control measures, with firms like McKinsey & Company also reportedly considering workforce reductions.
The final number of job cuts will depend on the ongoing consultation process with affected employees and internal discussions.
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