KPMG to axe 200 UK roles amid ‘prolonged’ slowdown in demand

KPMG is set to cut a further 200 jobs in the UK after experiencing a “prolonged slowdown” in demand for some services. 

In addition, it is understood that this decision was also made on account of fewer members of staff deciding to leave on their own accord. 

The Big Four firm informed staff yesterday (20 June) that it would be making back-office and client-facing roles redundant. 

However, as part of a restructuring process, KPMG will be merging some back-office functions and “reduce duplication” in parts of its client-facing operations. 

KPMG has yet to reveal which client-facing business lines will be affected, but has told Accountancy Today that it will support all affected people via its employee assistance programme.

A KPMG UK 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.”

This latest trimming of roles at KPMG comes after it axed over 200 roles at the end of last year and also froze pay for approximately 12,000 staff – that is out of more than 17,000 currently employed by the firm in the UK. 

The consultation process on the proposed redundancies is reportedly expected to be completed by 1 October 2024.