KPMG Australia Announces Job Cuts for 360 Employees and 27 Partners
KPMG Australia is cutting five per cent of its workforce (27 partners and 360 staff) due to soft demand and a 1 per cent revenue drop to Australia USD 2.257B. CEO John Sams warned that slow economic growth will persist until 2028, and the firm aims to rebuild trust following past controversies. Scroll below to know more.
KPMG Australia has announced plans to cut approximately five per cent of its workforce, impacting 27 partners and about 360 employees primarily across its consulting and business services divisions. The accounting and advisory firm warned that difficult market conditions and subdued economic growth are expected to persist.
The workforce reduction comes as the firm reported total revenue of Australia USD 2.257 billion for the fiscal year ending June 2026, marking a 1 per cent decline from the previous year. The drop was largely attributed to reduced public sector spending and lower corporate demand for external consulting services. Volkswagen Layoffs: Up to 140,000 Jobs at Risk As Cost-Cutting Plan Sparks Union Warning.
Economic Outlook and Corporate Strategy
Addressing the broader economic climate, newly appointed CEO John Sams noted that recovery will take time as clients exercise caution. "Economic growth is expected to remain subdued until at least 2028, affecting client investment and extending decision-making timeframes," John Sams said in a statement. Sams also addressed internal hurdles following recent high-profile controversies and leadership changes at the firm. "We recognise the challenges created by our own failings, and the work we must continue to do to rebuild trust," he added. KPMG Layoffs Denied: Accounting Firm Refutes Final Decision on 1,000 Job Cuts Amid Staff Reduction Claims.
Financial Performance and Market Pressure
While parts of the firm's business remained stable, the advisory division faced significant headwinds over the fiscal year as government agencies trimmed their reliance on external consultants. KPMG Australia is streamlining parts of its organisational layout to better align with international operations and drive greater efficiency. Leadership emphasised that the restructuring aims to position the company for stability as it navigates a prolonged period of restrained market activity.
(The above story first appeared on LatestLY on Aug 26, 2026 03:31 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
