KPMG LLP Layoffs

Topics regarding layoffs at KPMG LLP

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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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 

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 

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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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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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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Post ID: @OP+14l36528

KPMG layoffs 2019 NOW

Feb. 2019. Advisory across the country. They will never stop. Advisory is never KPMG’s favorite child. Looks like they have been doing the advisory layoffs every 2 years.

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Post ID: @OP+Xyv2xLA

Major layoffs at KPMG

This time it's South Africa, nearly 400 people will be cut. This seems to be specifically related to corruption scandals, so whether this will spread to other countries is doubtful but remains to be seen... —  read more 

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Post ID: @OP+TvASrMK

Move to Deloitte or PWC now

Just because we use the term "big 4" doesn't mean that they are in the same category. To be honest, working for KPMG or EY is like being om a minor league baseball team that doesn't even have a good pro team. Please understand this is not intended to... —  read more 

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Post ID: @OP+L2m2jOb

Former Sr Associate

Yup lot of folks have been laid off in credit risk and mortgage and consumer lending practice. Including executive level folks like 1 Director Hemanth Brindavan and One Managing Director Anita Agarwal....

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Post ID: @OP+JqiDaUy

This is from last year

Old news but very interesting indeed: The reduction in the number ‎of partners at KPMG follows a fall in profit to £383m in the year to 30 September, with a modest rise in revenue meaning it was overtaken by EY to become the smallest of the quartet... —  read more 

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Post ID: @OP+IgjQdhW

SRED

FYI - SRED = The Scientific Research and Experimental Development (SR&ED) Program is a federal tax incentive program, administered by the Canada Revenue Agency (CRA), that encourages Canadian businesses of all sizes, and in all sectors to conduct... —  read more 

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Post ID: @OP+zALlFiI

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