After 500 Earlier Cuts, KPMG Plans Another 200 Layoffs

KPMG is proposing another round of workforce reductions, with around 200 roles at risk across its corporate services division as the professional services firm continues to reshape its operating model following the integration of its UK and Swiss businesses.

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The proposed reductions are expected to impact nearly 10% of the firm’s corporate services workforce. Functions likely to be affected include human resources, corporate affairs, marketing, technology, and procurement.

Restructuring Continues Across the Business

The latest proposal comes just months after KPMG eliminated more than 500 positions across its audit and advisory businesses.

The move is part of a broader restructuring programme aimed at improving operational efficiency, reducing costs, and aligning the workforce with changing business needs.

According to reports, KPMG has launched a consultation process with employees over the proposed reductions in its central services teams.

A KPMG UK spokesperson said the changes are linked to the ongoing integration of the firm’s UK and Swiss businesses and a wider review of its operating model.

“As we continue to integrate our UK and Swiss businesses to deliver on our group strategy and drive growth, we are looking at the shape of our operating model,” the spokesperson said.

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Focus on Technology and Offshore Delivery

KPMG said the proposed reduction in corporate services is intended to remove duplication created by the integration, maximise investments in technology, and expand the use of offshore delivery capabilities.

The firm added that employees affected by the proposals will be supported throughout the consultation process.

The integration of KPMG’s UK and Swiss businesses officially took effect on October 1, 2024, after receiving approval from partners in both firms. Since then, the organisation has been working to streamline operations and create a more unified business structure.

More Than 500 Roles Already Eliminated

Earlier this year, KPMG cut approximately 440 assistant manager positions in its audit practice, affecting around 6% of the division’s 7,100 employees.

The firm attributed those reductions to lower-than-expected employee attrition, which resulted in larger teams than required.

In addition, KPMG eliminated around 120 roles in its advisory business, citing changing market conditions and evolving client demand.

Big Four Firms Continue Workforce Realignment

KPMG’s latest restructuring reflects a wider trend across the professional services sector. Major consulting and accounting firms are simplifying organisational structures while increasing investments in artificial intelligence, automation, digital technologies, and offshore delivery models.

Reports indicate that other Big Four firms have also announced or considered workforce reductions in recent months. PwC has reportedly been preparing job cuts within parts of its audit business, while Deloitte recently moved to eliminate nearly 200 audit roles.

The latest proposals suggest KPMG’s transformation programme is now extending beyond client-facing teams into central support functions.

As the firm continues integrating its UK and Swiss operations, technology-led efficiency, streamlined structures, and cost optimisation are expected to remain key priorities shaping its workforce strategy.

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