PracticeAccounting FirmsKPMG axes 700 in the UK

KPMG axes 700 in the UK

KPMG is to axe 700 jobs in its UK offices as it continues to react to difficult market conditions.

The move will bring the number of job losses to almost 1,000 at the Big Four firm for 2002 – earlier in the year it announced 200 jobs would go in its tax practice, and a further 62 losses are expected to be made in the firms legal arm, KLegal.

In a statement, the firm said: ‘Where compulsory redundancies are made, KPMG will invest internal resources to help those affected find new opportunities outside the firm.’

The firm is expected to complete the latest round of cuts by September and they are likely to occur across the board.

KPMG also said that as part of its early retirement programme for partners, it expected the number of partners would fall from 600 to around 550.

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