KPMG to lay off 4% of US audit workforce

KPMG, one of the world’s largest accounting firms, is laying off around 330 employees in its US auditing division.

Part of the “Big Four” (Deloitte, Ernst & Young, PricewaterhouseCoopers and KPMG), the company notified workers last week, focusing cuts on associates and managers, with no partners affected.

The move follows previous layoffs, including a 5% reduction in staff last summer. KPMG aims to align its workforce with market demands while maintaining the quality of its services.

Despite global audit revenue rising 6% to $12.6 billion, the firm faces challenges in hiring skilled personnel, compounded by the industry’s growing use of artificial intelligence.