340 jobs go at KPMG as pay freeze rolled out

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.

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