KPMG to cut 125 UK consulting jobs as client demand drops

KPMG UK is planning to cut 125 consulting jobs in the UK in response to falling demand and challenging economic conditions, said a person familiar with the matter.

The firm has started a consultation process to reduce client-facing roles in the consulting arm, the source said. It is also shifting some employees to more in-demand areas within the company. The cuts represent 2.3 per cent of staff in the unit.

KPMG is the latest of the so-called Big Four firms to introduce cuts in the UK. Rival Deloitte was set to cull 800 UK roles last week, while EY announced it is cutting 5 per cent of staff in its UK financial services consulting division. PwC has said it is cutting pay increases and bonuses for some of its 25,000 UK employees. BLOOMBERG