September 15, 2019

Layoffs Watch ’12: Forced Ranking May Be Hitting KPMG Auditors

Following the news that the IT Advisory group could possibly force some professionals into the underperforming category, I had the following text message exchange yesterday with a source at KPMG that I'll refer to here as Rudy. 

Rudy: Did you hear about the layoffs?

Me: Nooooo. I just posted about the possible layoffs in ITA but did something else happen?

Rudy: Performance based across the U.S. across multiple levels.

Me: Ahhhh, forced ranking, eh?

Rudy: Seems like it. Trimming the fat.

Me: Right. Know anyone that got cut?

Rudy: Yup. From Los Angeles. And I heard about a few senior managers in financial services [in New York]

Me: All audit?

Rudy: As far as I know.

Yes, that Rudy. But never mind that. By all indications, not enough people are voluntarily saying goodbye to the House of Klynveld, so the firm has no choice but to find a few expendables. If you've recently been told your capital market services are no longer needed, email us

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