KPMG’s UK business has warned nearly 600 employees in its audit practice that their jobs could be cut, Bloomberg News reported citing people familiar with the matter.
Those informed were told that their positions are at risk and may be eliminated following a formal redundancy consultation.
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One person familiar with the plan told the publication that the firm anticipates that up to 440 people may ultimately leave if the proposal is implemented after the consultation period.
A spokesperson for KPMG UK was quoted by Bloomberg News as saying: “Current market conditions mean our attrition rates are very low within certain parts of our audit population, which is why we are proposing to right size those areas. This isn’t a decision we take lightly.”
The planned reductions are understood to centre largely on assistant manager roles held by qualified accountants, the person said.
If carried out in full, the cuts would affect about 6% of the audit division’s workforce, which totals around 7,100 employees.
KPMG’s plans come as several major professional services and consulting firms respond to slower demand and higher costs after a period of rapid hiring.
Bloomberg previously reported that McKinsey & Co.’s senior executives have spoken with leaders of internal, non-client-facing teams about plans to trim roughly 10% of roles in those areas.
The proposed restructuring could lead to a few thousand positions being cut, implemented gradually over a period of 18 to 24 months.
Another major professional services network EY has also trimmed its workforce. In the year to June 2025, the company reduced headcount at the central organisation by 8%, bringing the number of directly employed staff down to 964.
