KPMG to cut 100 U.S. audit partners after retirement plan falls short
KPMG is laying off about 100 U.S. audit partners, roughly 10% of its audit partner workforce, after an early-retirement program failed to achieve the desired headcount reduction. The Big Four firm stated the cuts are necessary to align staffing levels with the size of its audit business. The move reflects ongoing restructuring in the accounting industry amid changing market conditions.
Key facts
- KPMG is cutting about 100 U.S. audit partners.
- The cuts represent approximately 10% of its U.S. audit partners.
- The layoffs follow an early-retirement push that fell short.
- KPMG is one of the Big Four accounting firms.
- The firm says the cuts align staffing with the size of its audit business.
Entities
Institutions
- KPMG
Locations
- United States
Sources
- Quartz —