KPMG to lay off 5% of its U.S. employees
KPMG, one of the Big Four accounting firms, announced Monday it plans to lay off 5% of its roughly 39,000 U.S. employees. The company said the decision came after it was hit with “economic headwinds, coupled with historically low attrition.” KPMG was the first Big Four firm to reduce its U.S. headcount when it cut about 2% of its U.S. jobs in February. The jobs in the latest layoffs will be cut over the rest of the 2023 financial year. “We do not take this decision lightly,” KMPG told Reuters in an emailed statement. “However, we believe it is in the best long-term interest of our firm and will position us for continued success into the future.” Ernst & Young said in April it would cut 5% of its U.S. jobs, and Deloitte also plans cuts.