340 jobs go at KPMG as pay freeze rolled out
Headcount reduction programme complete, as KPMG announces pay freeze
SOME 340 JOBS were cut at KPMG following its headcount reduction plan, and a pay freeze has been implemented across KPMG.
An internal email to staff said that plans to cut up to 3% of its workforce were now complete. The email contained a video link, in which the pay freeze was announced, reported the Evening Standard.
The workforce reduction plans were revealed in August, and were put down to “actively managing [its] cost base … in a subdued economy and fast-changing marketplace”.
KPMG posted £1.7bn in revenues for the year ending 30 September 2011, with profits falling 5% to £396m.