PracticeAccounting FirmsKPMG lose 275 staff in restructuring

KPMG lose 275 staff in restructuring

Accountancy Age understands KPMG has completed its review of business

KPMG LOST 275 staff following a restructuring exercise to streamline the business.

Earlier this year, the firm announced it would reduce its headcount by 3%, equal to about 330 staff out of about 11,299 that it employs, following a planned review of the entire business.

Accountancy Age understands that now the exercise has been completed and the firm has made 275 redundancies, equal to about a 2.5% reduction in headcount.

A spokesman said: “The numbers were lower than originally mooted because we were able to redeploy a higher than expected number of people to other positions within the firm.”

When asked how much the restructuring process including redundancy costs amounted to KPMG declined to comment.

At the time of KPMG’s announcement in August that it was reducing headcount a spokesman said: “KPMG continues to grow its UK business in a subdued economy and fast-changing marketplace.

“However, we have taken a hard look at our operations to ensure that we stay best positioned to continue providing the best services to our clients as efficiently as possible.”

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