KPMG Australia to Cut Hundreds of Jobs, Reduce Partner Pay
Synopsis
KPMG Australia could cut more than 1,000 jobs and slash partner pay by up to 20%, according to a report, as the firm deals with allegations over the misuse of confidential information.
Key Highlights
- KPMG Australia is preparing to axe hundreds of jobs, according to a report.
- Partner compensation may be slashed by as much as a fifth.
- The steps come after claims employees abused confidential information in order to win contracts.
KPMG Australia to cut hundreds of jobs and slash partner pay up to 20% in response to allegations it misused confidential information.
The job cuts have not yet been finalised and could be larger than 1,000 positions, the report added, citing sources familiar with the matter.
Restructuring Plans Under Review
KPMG Australia has about 10,000 staff members across its national network of offices and more than 600 partners, according to its website. As the firm deals with allegations that it failed to protect its confidential information, the reported job cuts and partner pay reductions remain on the table.
Source: Reuters
At Inspirepreneurs Magazine, covering entrepreneurship, business failures, and the human stories behind the world's most ambitious founders. She writes at the intersection of strategy and storytelling.
You Might Also Like
Surge in Mega Deals Masks Struggles for Australian Early-Stage Startups
Including Climate Risk in Strategic Planning and Decision Making
