Key facts
- KPMG UK plans to cut around 200 jobs in its corporate services division.
- The proposed cuts will affect technology, cyber, HR, corporate affairs, marketing, and procurement functions.
- The reductions represent about 10% of the firm's group corporate services workforce.
- KPMG UK previously eliminated over 500 jobs earlier in 2024, including 440 in audit and 120 in advisory.
- The firm is integrating its UK and Swiss businesses as part of a strategy to streamline operations.
KPMG UK is preparing for another round of job cuts, with approximately 200 roles slated for elimination within its corporate services division. This move follows earlier significant workforce reductions at the firm, which has already cut more than 500 jobs this year. The latest proposals are part of a broader strategy to streamline operations after the integration of its UK and Swiss businesses, which officially took effect on October 1, 2024. The reductions are intended to avoid duplication, maximize technology investments, and expand offshore delivery capabilities. The affected functions include technology, cyber, HR, corporate affairs, marketing, and procurement, representing about 10% of the group corporate services workforce. Earlier in the year, KPMG eliminated 440 assistant manager positions in its audit business and 120 roles in its advisory division, citing lower attrition and evolving market conditions. These actions by KPMG are occurring amidst similar workforce reductions at other Big Four firms like PwC and Deloitte, reflecting ongoing pressure on professional services firms to adapt to softer demand in certain areas while increasing investment in technology and efficiency.