Source : Perth Now news
KPMG has confirmed further job losses and a hit to its revenue as the fallout from the whistleblower scandal and a worsening economy hits the consulting giant.
In an update on Monday, KPMG announced 27 partners and 360 employees would be made redundant.
Staff were informed by the job losses during an all-in call at 10.30am.
The fallout follows a whistleblower – a former audit director – alleging some partners at KPMG bent the rules to win lucrative contracts.
The firm’s chief executive Andrew Yates and head of audit Julian McPherson both resigned in the aftermath of the scandal.
For the year ended June 30, 2026, KPMG Australia recorded total revenue of $2.257bn, down 1 per cent on the previous period.
Newly appointed chief executive John Sam labelled it a challenging year for the business and said the job losses were due to slowing demand for KPMG’s services.
“After careful consideration, we have made the difficult decision to reduce our workforce and restructure parts of the firm,” he said.
“This is not a decision that has been taken lightly, and we know it will have a very real impact on people.”
“With demand for consulting remaining weaker, most of the roles affected will be in our consulting business.
“Changes to our business and the professional services landscape have also reduced the need for some roles in business services.”
KPMG also said equity partners’ pay dropped by 13 per cent last year due to falling profits.
More to come
