KPMG Consulting cuts 10% of jobs
Up to 10% of consulting staff at KPMG are to be made redundant following a downturn in IT business.
Up to 10% of consulting staff at KPMG are to be made redundant following a downturn in IT business.
KPMG said between five and 10% of its 2,100 staff will go, starting in July. The news is a further sign that economic problems in the US are beginning to bite deeply in the UK.
A spokesman for the firm said the major loss of work was in the internet and integrated solutions area during the course of this year despite strong growth last year of 13%.
Extra staff were recruited last as business appeared to boom but many firms in the sector have seen work decline as economic growth in the US slowed down.
A KPMG spokesman said: ‘We are reflecting where we are in our business now. In large sections of business this year there has been a down turn. It has not been unique to us by any means and that has necessitated us looking at our staffing levels.’
Revenues for KPMG consulting in the UK stood at £272m last year though the 13% growth was down from the 30% in 1999.
Just last month PricewaterhouseCoopers announced that 8% of its consultancy staff in the US would have to go.
Links
The numbers you crunch tell a story. Your expertis...
23yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleIn the midst of political flux, potential UK entrepreneurs are hesitating to launch new businesses, primarily due to the uncertainty brought about by ...
View article61% say providing financial support for their family is of importance to them, with 77% currently doing so Read More...
View articleStartups face unique financial challenges, such as cash flow volatility and equity-based compensation complexities. Innovative strategies and technolo...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleIn 2019, the a survey conducted by the FRC highlighted that only 17% of women held partner-level positions Read More...
View articleDains believes a corporate structure is the best way to maximise the benefits of its growth strategy Read More...
View articleBoth employer and employee will benefit from flexibility and cost-saving Read More...
View articleThere are nine key areas that accounting practices must get to grips with as client expectations and technological developments rise, while team membe...
View article