March 27 (Reuters) - Big Four accounting firm KPMG's UK unit has told nearly 600 staffers in its audit business that their jobs are at risk, Bloomberg News reported on Friday, citing people familiar
KPMG says to cut jobs in UK auditing division
KPMG UK Audit Division Job Cuts Overview
Details of the Redundancy Proposal
March 27 (Reuters) - 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.
Reasons for the Proposed Cuts
"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.
Uncertainty Over Exact Numbers
The statement did not say how many job cuts were likely.
Who Will Be Affected
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.
Reporting Credits
(Reporting by Carlos Méndez and Mrinmay Dey in Mexico City; Editing by Shailesh Kuber and Edwina Gibbs)
