Accounting giant KPMG plans to lay off around 330 employees, less than 4 percent of its audit workforce in the United States, according to a sources.
The company attributes the cuts to an ongoing effort to adapt workforce size and skill alignment to current market conditions and a continued decrease in attrition rates.
KPMG’s Strategic Workforce Adjustments
In an emailed statement, a KPMG spokesperson emphasized the firm’s focus on adjusting its workforce structure to align with evolving market demands.
They said:
“The actions reflect our ongoing focus to align the size, shape, and skills of our workforce to the market while addressing continued low levels of attrition.”
The current cuts follow similar workforce reductions over the past year.
In June, KPMG laid off 5 percent of its U.S. employees due to economic challenges and historically low attrition rates, which contributed to staffing imbalances.
Meanwhile, the firm recently announced a plan to reduce about 100 jobs in its UK deal advisory division.
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The Big Four’s Response to Economic Pressures
KPMG, along with Ernst & Young, Deloitte, and PricewaterhouseCoopers, comprises the Big Four accounting firms, all of which have adapted their workforce strategies in response to economic headwinds.
As economic uncertainty continues, the Big Four have navigated challenging decisions to remain competitive in the global accounting and consulting market.
KPMG’s Global Presence and Future Outlook
KPMG operates across 143 countries and territories, employing over 273,000 professionals worldwide.
While the latest layoffs reflect adjustments in the U.S. market, KPMG remains focused on aligning workforce needs with evolving industry requirements and may continue to assess staffing across its global operations.
