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KPMG restructuring plans result in staff cuts

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28th Aug 2012
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KPMG has told its UK staff that up to 3% of roles, equating to more than 300 positions, will be “at risk” as part of a review across the entire business.

The Big Four firm said in a statement that it has continued to grow its UK business in a subdued economy and fast-changing marketplace, but has “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.

“Part of this means actively managing our cost base. As a result, a number of business units within KPMG are now carrying out reviews of their structures and headcount numbers. It is likely that we will need to make a number of roles redundant over the coming weeks.

“Clearly, any redundancy situation is regrettable – and KPMG will make every effort to redeploy individuals within the firm whose roles are ‘at risk’,” it said.

The review affects KPMG’s 11,299 UK staff and is the second round of job cuts in six months.

The restructuring is ongoing and subject to consultation, and as such KPMG cannot provide precise numbers at this stage.

Back in March KPMG announced that Simon Collins, currently global head of KPMG’s transactions and restructuring group, would become its new UK chairman and senior partner from 1 October taking over from John Griffith-Jones. 

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