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KPMG cuts 275 in staff shake-up

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10th Dec 2012
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KPMG has slashed 275 staff as part of its latest restructuring exercise in an attempt to streamline the business.

A KPMG spokesperson told AccountingWEB the redundancies were not part of a new round of job cuts, but that they were "able to redeploy internally more than they had originally anticipated," from a previous announcement of more than 300 cuts.

Back in August the firm announced around 3% would be “at risk” - equal to 330 staff out of about 11,299 - following a planned review of the business.

It said it had continued to grow its UK business in a subdued economy and fast-changing marketplace, but had “taken a hard look at our operations to ensure that we stay best positioned to continue providing the best services to our clients as efficiently as possible.”

AccountingWEB sister title Going Concern commented on the cuts: “The catch, of course, for those of you that dodged this bullet is that you shouldn't expect a raise any time soon. We won't dwell on that though.”

The recent cuts form part of a continuing trend for the Big Four firm, who back in March warned of mass redundancies from another round of cuts.

Back in June Going Concern also reported on rumours that things were looking increasingly dire at the firm’s IT advisory group, with more jobs at risk.
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