PracticeAccounting FirmsKPMG encourages more staff to sign up to four-day week

KPMG encourages more staff to sign up to four-day week

KPMG promises employees will only lose 10% of their existing pay if they sign up to a four-day week, on the condition that 75% of staff agree to sign up for the scheme

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KPMG has sweetened the
terms of its four-day a week flexible work offer in a bid to encourage more of
its UK 11,000 staff to sign up.

Instead of docking a full day’s pay, the Big Four firm has told staff that
workers would only lose 10% of their existing pay, on condition that 75% of
staff agreed to take part.

Earlier this week a KPMG spokesman said nearly 50% of UK staff and partners
had asked to work either a four-day week or take extended unpaid leave for up to
12 weeks per year. The deadline for applications is tomorrow.

The offer, announced, last month, is a move to avoid redundancies as the
economic downturn bites.

There have been a wave of job cuts in the profession. Firms including
Deloitte, Grant Thornton and PKF have announced plans to cut hundreds of jobs in
expectation of slower revenue growth this year.

Thousands of redundancies in financial services have cut the amount of
advisory work on offer, while merger and acquisition activity has also slowed
dramatically.

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