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.
Big Four firm KPMG is pulling out of US federal government audit work, moving more than 450 staff into new roles. The decision follows KPMG losing a major Pentagon contract. The firm had audited the US Army for nearly a decade. KPMG’s exit comes as the US Defense Department changes how it approaches audits.
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KPMG says it will cut about 10% of its US audit partners, impacting over 100 people, after a multi-year push to encourage early retirements saw weak uptake. The firm insists the decision is not tied to performance reviews and says layoffs aim to align partner numbers with the current size of its audit business. Packages and job-search support will be offered.
KPMG is set to cut roughly 10% of its U.S. audit partners, a rare move in the consulting world. The restructure, driven by CEO Tim Walsh, follows the company’s voluntary retirement scheme falling short. With pressure building on the audit division, the firm is taking a direct staffing approach rather than relying on attrition to reset costs.
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