SYDNEY, Aug 24 (Reuters) – KPMG Australia said on Monday it plans to cut about 5% of its workforce, mainly in its consulting and business services divisions, affecting 27 partners and around 360 employees, and warned difficult market conditions would continue next year.
The accounting firm, which has been embroiled in a scandal over the misuse of confidential client information, reported total revenue of A$2.257 billion ($1.62 billion) for the year ending in June 2026, down 1%, as governments reduced their use of consultants.
“Economic growth is expected to remain subdued until at least 2028, affecting client investment and extending decision-making timeframes,” KPMG Australia CEO John Sams said in a statement.
($1 = 1.3943 Australian dollars)
(Reporting by Renju Jose in Sydney; Editing by Christian Schmollinger)
Comments