KPMG plans to cut up to 440 jobs in its UK audit division amid slower growth and shifting business demands across the consulting industry.
KPMG has informed nearly 600 employees that their roles may be affected. The job cuts are under consultation, and final numbers may change.
If fully implemented, the reduction would affect around 6% of the audit division, which employs roughly 7,100 people in the UK.
Who Is Most Affected?
The proposed cuts are mainly focused on:
- Assistant manager-level professionals
- Employees with accounting qualifications
This indicates that even traditionally stable mid-level roles are being reshaped as firms reconsider their workforce structures.
Why Is KPMG Making These Cuts?
According to the company, the issue involves not only slowing business but also lower employee turnover.
In simple terms:
- Fewer people are leaving the company.
- Hiring in previous years was high.
- Now there are more employees than needed in certain areas.
KPMG stated it is aiming to “right-size” its workforce according to current market conditions.
KPMG is not alone. The entire consulting sector is going through a transition.
- McKinsey & Company is reportedly considering job cuts in non-client roles.
- PwC has highlighted the growing importance of AI in professional services.
These changes reflect a bigger shift where firms are:
- Reducing costs
- Increasing efficiency
- Adapting to new technologies
Artificial intelligence is increasingly shaping how consulting firms operate.
Industry leaders, including Dario Amodei, warn that AI could reshape jobs faster than expected.
Tasks that once required large teams can now be:
- Automated
- Streamlined
- Completed faster with fewer people
This forces companies to reconsider their workforce needs.
The proposed cuts at KPMG highlight a key reality: the consulting industry is entering a new phase with slower growth, increased competition, and technological change.
The consulting industry is entering a new phase, one where growth is slower, competition is higher, and technology is changing how work gets done.
For professionals, this means:
- Upskilling is becoming essential.
- Understanding AI tools is increasingly important.
- Job roles may continue to evolve.
