KPMG is laying off hundreds of employees in its U.S. auditing business as it works to make up for lower levels of voluntary turnover.
The Big Four accounting firm last week notified about 330 people, or nearly 4% of its roughly 9,000-person U.S. audit workforce, that they would be let go in the coming weeks, people familiar with the matter said. The cuts have focused on employees such as associates and managers, and included no partners, the people said.
The move follows several rounds of KPMG cuts in the U.S., including an audit-centric round in March. Last year, KPMG laid off about 5% of its U.S. staff over the summer—including advisory, tax and back-office workers—after cutting some advisory personnel, or almost 2% of U.S. staff, earlier in the year.
https://www.wsj.com/articles/kpmg-to-lay-off-4-of-u-s-audit-workforce-to-counter-fewer-voluntary-exits-16139c84