PracticeAudit‘No job losses’ in KPMG euro-merger

'No job losses' in KPMG euro-merger

Merger with European firm will not result in any job losses, firm says

There will be no job losses for KPMG employees in the upcoming merger of the
firms in the UK and Germany, a senior member of the UK firm has said

Speaking of today’s announcement of the merger, KPMG’s head of Audit, Richard
Bennison, said that some employees may perform different functions but no job
losses will take place.

Bennison also revealed the way in which profits would be shared out between
partners.

‘There will also be one profit pool and each partner rewarded on the basis of
his or her contribution to the whole firm. We’re not going to deliberately shift
more earnings from one firm to another,’ said Bennison.

Announced today, the merger is set to be the first stage in a plan to create
a fully integrated KPMG member firm in Europe.

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