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KPMG will cut a further 200 roles in the UK
KPMG is set to cut a further 200 jobs in the UK as the consultancy sector faces a market downturn.
The cuts, which affect both administrative and customer service functions, come after a review of the company’s cost base and are expected to be completed by October 2024.
This move follows similar cuts at the Big Four companies in 2023, which saw around 1,800 jobs lost due to a decline in trading, City AM reports.
KPMG is also facing stricter UK visa requirements, having revoked job offers from foreign graduates. This comes amid a proposed merger between KPMG UK and KPMG Switzerland, which is expected to be finalized later this year.
“Like the rest of our sector, we are still operating in challenging market conditions, which is why we have made the difficult decision to consult on proposals to reduce our cost base,” said a KPMG spokesperson.