KPMG seen to slash jobs in UK auditing segment

​KPMG's UK unit ​said on Saturday it plans ​to cut staff in its auditing division, following a report by Bloomberg News ‌that ⁠the company ⁠expects up to 440 people ​will leave the business if a redundancy consultation ​proposal goes ahead.

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"In our audit business, we expect to see a regular pattern of natural ⁠attrition. But ‌current market conditions mean attrition rates are very low ⁠within certain parts of our audit population, which is why we are proposing to right size those areas," a KPMG UK spokesperson said in an emailed statement.


The statement did not ‌say how many job cuts were likely.

The proposed cuts ​primarily ​target assistant ⁠managers who are qualified accountants, representing roughly 6% of the division's 7,100-strong workforce, said ​Bloomberg, which cited people familiar with the matter.