September 13, 2020

Layoffs and Compensation Watch ’12: KPMG

KPMG has made good on its promise to send over 300 of its UK employees packing, but, reportedly, there's a bit of a surprise for everyone who remains:

Some 340 jobs were cut at KPMG following its headcount reduction plan, and a pay freeze has been implemented across KPMG. An internal email to staff said that plans to cut up to 3% of its workforce were now complete. The email contained a video link, in which the pay freeze was announced, reported the Evening Standard.
Accountancy Age also reports that the UK firm had "£1.7bn in revenues for the year ending 30 September 2011, with profits falling 5% to £396m," so we'll see if the Kampers fair better here in the States. Stay tuned.
 

 

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Leave a Reply

Your email address will not be published.

Related articles

An Open Letter to EY Management

Ed note: An EY employee who wished to remain anonymous asked us to post this letter to EY management regarding the recent layoffs at the firm because “management tends to ignore our questions when we raise them internally.” Here is the letter: Integrity and honesty are the foundations of public accounting. With great trust, the […]