KPMG is cutting around 600 jobs in the UK, according to multiple reports. The firm blamed low attrition rates for the redundancy round, a departure from the traditional reliance on natural staff turnover to manage headcount.
The cuts include about 440 'assistant manager' roles in its audit business and around 120 roles in its advisory arm, major media outlets reported. The move comes despite KPMG's audit business growing by 5% in its latest results, while its advisory business saw a 3% decrease in fees.
The job losses are part of a broader trend among the Big Four accounting firms in the UK. Over 900 roles were made redundant at the UK Big Four firms in 2024, according to multiple reports. PwC UK's consulting and risk practices both declined by 3% in its most recent financials, and EY UK's consulting revenues decreased by 6%.
The UK unemployment rate rose to over 5%, according to major media reports, providing a challenging economic backdrop for professional services firms. The exact current attrition rate at KPMG UK has not been disclosed, and it remains unclear how many total jobs have been cut across all Big Four firms in the UK in 2025 so far. The timeline for the KPMG job cuts has also not been specified.