KPMG Australia denies job cut decisions amid media report

• KPMG Australia has denied making any decisions regarding potential job cuts.
• A media report suggested the firm plans to eliminate approximately 1,000 positions, or 10% of its workforce.
• The company is currently reviewing its operating model, cost base, and workforce needs.
• KPMG is facing multiple investigations following allegations of misconduct.
• John Sams was recently appointed as the new CEO of KPMG Australia.

KPMG Australia has stated that no decisions have been made regarding potential job cuts, following a report by the Australian Financial Review (AFR) that indicated the firm planned to eliminate around 1,000 positions, representing 10% of its workforce. The AFR report suggested that details on the roles to be cut were shared with select partners.

A spokesperson for KPMG confirmed that the firm is reviewing its operating model, cost base, and workforce requirements, emphasizing that no specific measures or impacts on roles have been decided. The company is evaluating various options to ensure its future positioning.

KPMG's global Chairman and CEO, Bill Thomas, and Chief Operating Officer, Gary Wingrove, are currently in Australia to meet with partners and clients. The firm has been under intense scrutiny since March due to whistleblower allegations of using confidential client data to secure audit contracts. This scandal has led to several high-level departures, including the former chairman, CEO, and audit boss.

John Sams, a partner from the commercial advisory and transactions practice, was recently promoted to CEO. KPMG is currently subject to multiple investigations by government bodies and professional organizations, and is prohibited from bidding for new federal government work until September.