KPMG Australia is assessing measures that could lead to several hundred redundancies and a reduction in partner pay of up to 20% as it responds to the financial impact of the audit leaks scandal.
According to an Australian Financial Review report, the job reductions are expected to be spread across the ‘Big Four’ company.
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The final number of impacted roles has not been confirmed, but internal expectations indicate at least several hundred positions. Two sources told the AFR that the total could reach or exceed 1,000.
KPMG says on its website that it employs around 10,000 people in Australia, including more than 600 partners.
The report follows KPMG’s public-sector arm agreeing not to bid for new Commonwealth and New South Wales public sector work until the end of September. The company is also reported to be experiencing softer demand from private-sector clients.
KPMG Australia is facing allegations that it used confidential client data to win contracts. Several senior leaders have departed since the issue emerged, including the chair, CEO and audit head.
More recently, KPMG Australia appointed Michael Ebeid as its first independent chair as part of governance changes aimed at rebuilding trust.
The AFR reported that any announcement on job cuts is unlikely before the company appoints a permanent CEO.
Potential candidates for the role named in the report include head of tax and legal Ben Travers and head of mid-market and private businesses Naomi Mitchell. Chief financial officer John Sams is also cited as a leading contender.
Sams told partners last month that pay for the 2026–27 financial year (FY26–27) could fall by as much as 13%. The AFR report also said that some partners had been told broader partnership pay for FY26 could be reduced by 20%.
The incoming CEO is expected to appear before the parliamentary committee examining the audit leaks scandal. A further hearing is scheduled for 14 August.
