KPMG is set to slash a further 200 jobs in the UK in an attempt to cut costs.
The business advisory firm is expected to cut more back office and client-facing roles as it experiences a slowdown in business.
It intends to merge certain areas to simplify ways of working, which would result in a reduction of 1.2% of its UK headcount.
A consultation with those affected by the proposed job cuts began this week, with those facing redundancy set to leave the business by 1 October.
Redundancy
KMPG recently revoked job offers to some overseas graduates after the implementation of a higher minimum salary under UK immigration rules, and at the end of 2023 cut 200 jobs. It has also frozen pay for about 12,000 staff.
KPMG and its Big Four rivals – Deloitte, EY and PwC – are reportedly struggling with a market slowdown. PwC launched a round of “silent lay-offs” in recent weeks, the FT reported.
A KMPG spokesperson said: “Like the rest of our sector we are still operating in challenging market conditions, which is why we have made the difficult decision to consult on proposals to reduce our cost base by simplifying ways of working in our central services, as well as matching our client-facing resources to demand.”
“We will continue to support our people as we consult through these proposed changes. At our core we remain a people business offering attractive and progressive roles that can meet our client’s expectations now and in the future.”
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