Topics regarding layoffs at KPMG LLP

Topics regarding layoffs at KPMG LLP

Ongoing layoffs

Is there any way to know if all 700 people who are getting cut here have been notified already or not? There is so little detailed info outside of "KPMG is cutting employees" that it's making me nervous. I'm hoping it's already over but I can't find... —  read more 

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| 1432 views | | 1 reply (February 16, 2023)
Post ID:  @OP+1ldSOQP6

Is it 5% or 5,000?

I've seen people mention 5% and I've also seen people say that 5,000 employees are affected. Which one is it? We have more than 200,000 employees. Five percent of that is 10,000, which means that five percent of the entire workforce would be above... —  read more 

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| 1595 views | | 3 replies (last February 15, 2023)
Post ID:  @OP+1lcf1xrG

Prepare for layoffs

Our own survey shows that more than half of companies plan to have layoffs in the next six months. What are the chances that we are in the "no layoffs" group? Slim to none. I'm preparing for cuts the best I can, and I'd advise everybody to do the... —  read more 

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| 2385 views | | 2 replies (last February 16, 2023)
Post ID:  @OP+1jb7ScwH

Is PIP survivable?

Every person I know who was put on PIP has been fired at the end of it. This includes people who shouldn't have been put on PIP in the first place as well as those who have worked hard and improved immensely. If people like that are getting fired... —  read more 

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| 5249 views | | 3 replies (last September 7, 2022)
Post ID:  @OP+1eqjyWpi

This is going to be massive

Following Deloitte, KPMG explores sale of restructuring arm [Consulting.uk] On the back of a number of accounting scandals involving the Big Four, the UK’s audit watchdog of the Financial Reporting Council has effectively banned Deloitte, KPMG, EY... —  read more 

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| 3629 views | | 1 reply (November 1, 2020)
Post ID:  @OP+17H2CfxU

KPMG severance package

What does the package look like for IT staff? Does it come with any kind of extended medical coverage? I haven't heard anything about more layoffs, I'm asking just in case - just to make sure that if something happens I know what kind of level of... —  read more 

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| 3381 views | | no replies yet
Post ID:  @OP+17Gs4QHb

Interns

The 2020 interns were virtual and it was only for 2 weeks but everyone got FT offers for next year

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| 1309 views | | no replies yet
Post ID:  @OP+17cd5vA0

1400 or 4%

Per Business Insider (link below)... KPMG just axed 1,400 US jobs across tax, audit, and advisory businesses and is also cutting some workers' pay KPMG, one of the so-called Big Four accounting firms, laid off 1,400 of its 35,000 US employees... —  read more 

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| 3689 views | | 1 reply (October 8, 2020)
Post ID:  @OP+17c2nKjs

Severance

I was laid off today and will receive a severance of 4 weeks. Some colleagues who have been with the firm several years only got 6. This is very low when you consider mass layoffs. There’s an option to sign a release agreement which gives 10% bonus... —  read more 

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| 7010 views | | 4 replies (last September 30, 2020)
Post ID:  @OP+17cLU6m6

Advisory Reduction in Force (RIF)

Just got an email from Carl Carande US Vice Chair Advisory. States that the pandemic has caused a downturn in business and as a result they will be having a RIF. Impacted personnel will receive an meeting invitation and email from HR by close of... —  read more 

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| 3483 views | | 5 replies (last October 4, 2020)
Post ID:  @OP+17bgU2CF

Audit - Cuts Happening Soon (Texas)

Employees have been told "If you don't like public accounting, let us know and we'll help you find a job elsewhere". Vacant audit positions across the country have been mentioned in case employees wish to transfer. Cuts will be happening very soon as... —  read more 

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| 2479 views | | 2 replies (last August 31, 2020)
Post ID:  @OP+16bleP2T

Better?

On a firmwide call yesterday KPMG said they were doing better than their worst case scenario projections, so there's that I guess.

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| 1465 views | | no replies yet
Post ID:  @OP+15jzA9ud

Impacts so far - KPMG US

KPMG US 50% reduction in draws for partners through Sept. 30. No variable compensation in FY 2020. Hiring freeze. Reduced capital investment. No Encore awards in FY 2020. No summer gifts to employees in FY 2020.

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| 2005 views | | no replies yet
Post ID:  @OP+14BYpsiX

Pains...

I can confirm Lynne stated in the latest video update that “our partners are doing everything possible to avoid layoffs” and that a “reduction in force will be the last resort.” 50% reduced partner draw for the rest of the fiscal year (through... —  read more 

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| 2615 views | | no replies yet
Post ID:  @OP+14l36528

Canada Cuts in Progress (April 2020)

It has started. KPMG Canada offices in several locations are being hammered - the biggest cuts are in Toronto, also hit Vancouver and Calgary. They are going after lower ranked folks, people that were held back - I hate to call them low performers... —  read more 

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| 3242 views | | 1 reply (April 2, 2020)
Post ID:  @OP+14g15znG

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