KPMG Australia to cut 5% of workforce amid scandal, weak growth outlook
KPMG Australia is reducing its workforce by about 5% as the firm continues to deal with the fallout from a scandal involving confidential client information and faces a subdued economic outlook .
The cuts will affect 27 partners and about 360 employees, with consulting and business services expected to account for most of the reduction.
The move comes as the firm undergoes a leadership overhaul following allegations that staff used inside information to secure lucrative audit contracts. The allegations were made by whistleblowers in March and have since brought KPMG Australia under intense scrutiny from the Australian government and major corporate clients.
The cuts will affect 27 partners and about 360 employees, with consulting and business services expected to account for most of the reduction.
The move comes as the firm undergoes a leadership overhaul following allegations that staff used inside information to secure lucrative audit contracts. The allegations were made by whistleblowers in March and have since brought KPMG Australia under intense scrutiny from the Australian government and major corporate clients.
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