KPMG is cutting close to 2 per cent of its staff in the US after a sharp slowdown in its consulting business, becoming the first of the Big Four accountancy firms to respond to the weaker economy with systematic job reductions.
The cuts, which will affect close to 700 people, were announced internally on Wednesday by Carl Carande, vice-chair of KPMG’s US advisory business.
They were needed to “better align our workforce with current and anticipated demand in the market,” he said in a memo to staff.
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