Key facts
- KPMG Australia plans to cut approximately 5% of its workforce, impacting 27 partners and around 360 employees.
- The job cuts are primarily in the consulting and business services divisions.
- The firm warned that difficult market conditions are expected to continue into next year.
- KPMG Australia's total revenue for the year ending June 2026 was A$2.257 billion, a 1% decrease.
- CEO John Sams stated that economic growth is expected to remain subdued until at least 2028.
- In FY 2024-25, KPMG Australia eliminated 635 jobs, including 21 partners.
- Equity partners at KPMG Australia saw a 10.3% pay increase, with average pay exceeding $715,000.
- KPMG Australia's revenue declined by 4% in FY25 to A$2.315 billion.
KPMG Australia is planning to cut approximately 5% of its workforce, affecting 27 partners and around 360 employees, primarily in its consulting and business services divisions. The firm cited subdued economic growth and reduced government consulting budgets, warning that difficult market conditions are expected to persist into next year.
For the year ending June 2026, KPMG Australia reported a 1% decrease in total revenue to A$2.257 billion ($1.62 billion). CEO John Sams stated that economic growth is expected to remain subdued until at least 2028, impacting client investment and decision-making timeframes.
In fiscal year 2024-25, KPMG Australia eliminated 635 jobs, including 21 partners, reducing its headcount to about 8,967. Despite these cuts, the firm welcomed 637 fresh graduates and 71 new partners during the same period. Equity partners at KPMG Australia saw a 10.3% pay increase, pushing their average compensation past $715,000, with CEO Andrew Yates receiving a $790,000 raise in FY25. The firm's revenue for FY25 declined by 4% to A$2.315 billion, attributed to a slump in consulting demand and a sector-wide scrutiny following scandals. KPMG Australia is adapting its strategy to focus on AI and offshoring, leveraging its global services arm in India for cost efficiencies.