KPMG to lay off about 6% of deal advisory staff in UK

ACCOUNTING firm KPMG is planning to cut about 100 jobs in its deal advisory business in the UK, a source told Reuters on Tuesday (Oct 17).

The layoffs will impact closer to 6 per cent of the 1,700-strong KPMG deal advisory team in the UK, the source said, adding that the move was due to lower client demand.

The Financial Times first reported about job cuts at the deal advisory team. The newspaper reported in September that KPMG had planned to lay off 2.3 per cent, or 125, of its UK consultants.

The accounting firm also announced layoffs affecting 5 per cent of its US employees in June.

Last month, Reuters reported Deloitte was planning to cut more than 800 jobs in the UK.

Deloitte, KPMG, EY and PwC make up the Big Four accounting firms. REUTERS