Posted: Fri Jun 12, 2009 1:18 pm Post subject: KPMG slash 700 U.K. jobs.
KPMG, one of the Big Four accountancy firms, yesterday announced it would slash 700 jobs in the UK, amounting to 7 per cent of its workforce in this country, due to the fall off in demand for accountancy and business advice services.
KPMG, one of the Big Four accountancy firms, yesterday announced it would slash 700 jobs in the UK, amounting to 7 per cent of its workforce in this country, due to the fall off in demand for accountancy and business advice services.
The company said it had "held out for as long as possible" before making the cuts, but could not delay them any longer because of the "adverse impact on business caused by the downturn in the markets".
The axe will fall across all of KPMG's operations, including its audit and tax advice arms, and jobs will be cut across the country.
A further 62 staff will be cut at its law firm, KLegal. KPMG Consulting, its management consultancy arm, has not been affected by this round of job cutting as it is preparing to split itself off and list separately through an initial public offering.
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