Key facts
- KPMG has eliminated its summer Friday early finish benefit for employees.
- The decision is attributed to tightening profit margins and rising costs.
- Staff have reacted negatively online, viewing the move as a sign of broader firm issues.
- PwC will maintain its summer early finish policy, albeit for a reduced period.
- The rollback follows recent redundancy announcements at KPMG, impacting over 500 roles.
KPMG's decision to eliminate its summer Friday early finish policy has generated significant backlash among employees, who view it as a symptom of broader financial difficulties and a decline in workplace culture. The firm, which introduced the perk in 2021 to allow staff to leave early on Fridays during the summer, has reportedly cut the benefit due to tightening profit margins and rising costs.
Online discussions reveal widespread dissatisfaction, with staff describing the policy as one of the few visible incentives and expressing concern that its removal signals deeper internal issues. Some teams are reportedly implementing informal 'jump starts' to compensate. In contrast, competitor PwC plans to continue its similar summer early finish policy, though for a reduced duration of six weeks.
Consultants suggest that professional services firms are under pressure to review all aspects of their operations, including employment policies, to remain competitive amid market volatility and increased investment in AI. This move by KPMG follows recent news of over 500 staff redundancies across its audit and advisory divisions, impacting approximately 6% of employees in those areas. The handling of these layoffs has also drawn criticism for poor internal communication.
Recruitment specialists believe that while the rollback of a single perk may not cause mass attrition, it contributes to a cumulative negative perception of the firm's culture and leadership priorities. This, combined with headcount cuts, reduced bonuses, and less clear career paths, could deter potential applicants and encourage existing employees to seek opportunities elsewhere.