KPMG, a major global accounting firm, announced earlier this week that the company will be conducting layoffs after fewer workers chose to voluntarily leave the company than originally expected. KPMG will cut 330 employees ranging from associates to managers in the company’s audit division, but no partners were affected by the changes. The layoffs will reduce KPMG’s United States workforce by four percent, and the company stated that the layoffs will allow the audit division to better meet market demand. Other major accounting firms, such as PricewaterhouseCoopers, also recently laid off hundreds of workers, including many employees in the audit division. These firms significantly increased hiring during the COVID-19 pandemic, and the number of clients seeking services from these accounting firms did not grow as much as predicted.
See "KPMG announces job cuts after not enough workers chose voluntary attrition", Mark Maurer, The Wall Street Journal, November 4, 2024