KPMG Cuts Nearly 400 US Advisory Jobs as AI Demand Outruns Traditional Consulting

About 4 percent of the advisory team

KPMG has laid off nearly 400 consultants in its US advisory business, affecting about 4% of the team, as demand declines in areas tied to regulatory risk, customer operations, and financial services. The firm says it’s a strategic realignment rather than a simple staff reduction, while ramping hiring in cybersecurity, forensic consulting, and AI transformation roles.