Hundreds more jobs to go at KPMG amid scandal fallout
Accounting giant KPMG Australia will reportedly axe hundreds of jobs before Christmas amid the ongoing fallout of its scandal over the handling of sensitive client documents.
The embattled firm has not confirmed the report in the Australian Financial Review today that 400 employees will be cut in November.
More job cuts have been reported at embattled accounting firm KPMG. iStock
In May, two senior executives resigned after investigations, both internal and external, into how a whistleblower’s claim over the alleged sharing of confidential client documents.
The firm has previously cited both the scandal and subsequent government work ban as well as the impact of AI on the professional services sector for its shrinking consulting revenue.
In August, the firm announced 27 partners and 360 employees would be let go.
“We need to be clear about the outlook,” KPMG Australia chief executive John Sams said at the time.
“We expect difficult market conditions to continue in FY27 and beyond.
“Economic growth is expected to remain subdued until at least 2028, affecting client investment and extending decision-making timeframes.
“We also recognise the challenges created by our own failings, and the work we must continue to do to rebuild trust.”
KPMG is one of the "big four" global accounting firms, alongside Ernst&Young, Deloitte, and PwC.
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