Readers expect more cuts after KPMG announcement

Readers expect more cuts after KPMG announcement

Following Accountancy Age's latest poll, readers expect to hear of further job cuts across the market

THE JOB CUTS ANNOUNCED BY KPMG could be the start of a wider trend, according to Accountancy Age readers.

The overwhelming majority (76%) of the 71 polled expect more firms to make similar announcements, while 23% read nothing into the move. Only 1% of readers are unsure what to expect.

The Big Four firm told staff last week that up to 3% were at risk of redundancy, after a review of the entire business. The firm employs 11,299 staff and said in a statement it “continues to grow its UK business in a subdued economy and fast-changing marketplace”.

It added: “However, we have taken a hard look at our operations to ensure that we stay best positioned to continue providing the best services to our clients as efficiently as possible.”

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Business secretary Vince Cable has made it easier for companies to drop out the requirement for a statutory audit. Is the audit exemption threshold set too low?

 

 

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