KPMG Set to Shed Hundreds of Auditors as Attrition Remains Low

KPMG UK has told nearly 600 staffers in its audit business that their jobs are at risk, according to people familiar with the matter.

Impacted employees were informed that they could be laid off, subject to a redundancy consultation, according to a memo to staff seen by Bloomberg News. The company ultimately expects as many as 440 people will leave the business if the proposal goes ahead following that consultation process, according to one of the people familiar with the matter, who asked not to be named discussing non-public information.

“Current market conditions mean our attrition rates are very low ...