KPMG International Ltd. is said to have fired approximately 330 employees, nearly 4% of its 9,000-person US audit staff, last week, The Wall Street Journal reported on Monday, citing people familiar with the matter.
"The actions reflect our ongoing focus to align the size, shape and skills of our workforce to the market, while addressing continued low levels of attrition," the firm added. According to the sources, the reported layoffs have targeted associates and managers positions and included no partners.
Earlier in the year, KPMG also conducted a round of layoffs focused on its audit department in March. Additionally, last summer, the firm dismissed about 5% of its US workforce, which included employees from advisory, tax, and back-office roles. Prior to this, KPMG had already reduced its advisory team by almost 2% earlier in the year as part of its ongoing restructuring efforts.
