KPMG UK may see 440 leave audit division pending consultation
Business
KPMG UK could see as many as 440 people leave its audit division pending a redundancy consultation, mostly impacting assistant managers who are qualified accountants.
The company says this tough call comes down to fewer people leaving on their own and shifting market conditions.
Peers like McKinsey eye 10% cuts
If the proposal goes ahead, it would affect about 6% of KPMG U.K.'s audit team, which has around 7,100 employees.
It's not just KPMG: other big firms like McKinsey have discussed possible cuts of about 10% of headcount as the consulting world adjusts to slower growth and tries to keep costs under control.