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KPMG Australia to Cut Up to 400 Jobs by End of November
KPMG Australia is preparing to cut up to 400 staff by end of November amid fallout from a document misuse scandal.
Key points
- Total redundancies will reach nine per cent of the firm's workforce.
- The cuts will mainly hit the consulting and internal-facing business services divisions.
- The consulting division, led by Brad Miller, has seen revenue drop by at least a third since July.
Why it matters. The job cuts show how far the document misuse scandal and the extended federal contract ban are still rippling through the firm.
KPMG Australia is preparing to axe up to 400 staff by the end of November, lifting total redundancies to nine per cent of its workforce. The cuts, dubbed “the reset” internally, will mainly hit consulting and internal-facing business services. Its consulting division, led by Brad Miller, has seen revenue fall by at least a third since July. The moves follow fallout from a document misuse scandal and an extended ban on bidding for new federal contracts.
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KPMG Australia to Cut Up to 400 Jobs by End of November
KPMG Australia is preparing to axe up to 400 staff by the end of November. The job cuts are a response to the fallout from the firm's document misuse scandal. The firm is also dealing with an extended ban on bidding for new federal contracts. Once the reductions are complete, total redundancies will reach nine per cent of KPMG Australia's workforce. The cuts have been dubbed a reset by the firm, according to the report.