KPMG UK cuts hundreds of audit jobs amid market pressure. The Big Four accounting firm is laying off approximately 440 employees from its audit division, representing about 6% of the 7,100-person workforce. Assistant managers who are qualified accountants face the greatest risk. KPMG cited low attrition rates and current market conditions as reasons for the redundancy consultation. This move reflects broader industry trends as consulting firms including McKinsey and PwC also implement workforce reductions. McKinsey is considering cutting roughly 10% of its workforce over 18 to 24 months, while PwC has warned partners must embrace artificial intelligence or risk replacement. The consulting sector faces significant pressure to control costs and adapt to technological disruption as AI capabilities expand.
Post from MarketNews_en
Log in to interact with content.