By Irina Anghel, Bloomberg News (TNS)
KPMG U.K. is planning to cut 125 consulting jobs in the U.K. in response to falling demand and challenging economic conditions, according to a person familiar with the matter.
The firm has started a consultation process to reduce client-facing roles in the consulting arm, the person said. The firm is also shifting some employees to more in-demand areas within the company. The cuts represent 2.3% of staff in the unit.
KPMG is the latest of the so-called Big Four firms to introduce cuts in the UK. Rival Deloitte is set to cull 800 U.K. roles, while EY announced it’s cutting 5% of staff in its U.K. financial services consulting division. PwC has said it’s cutting pay increases and bonuses for some of its 25,000 U.K. employees.
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©2023 Bloomberg News. Visit at bloomberg.com. Distributed by Tribune Content Agency LLC.
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Tags: Accounting, Firm Management, Staffing
