KPMG Australia says no decision made on workforce after media report of 1,000 job cuts
The firm is reviewing its operating model and workforce needs as it faces scrutiny over alleged misuse of confidential client data.
- On Thursday, KPMG Australia stated no decision has been made on potential job cuts, responding to an Australian Financial Review report that the firm plans to eliminate about 1,000 positions, or 10% of its workforce.
- Whistleblower accusations emerged in March involving the sharing of Lendlease and Optus data among staff bidding for contracts with major clients including Westpac, Dexus, and Telstra.
- KPMG faces separate probes from the Australian government, the Australian Securities and Investments Commission, the Tax Practitioners Board, and Chartered Accountants ANZ, while recently promoting John Sams as CEO following multiple high-level departures.
- Global Chairman and CEO Bill Thomas and Chief Operating Officer Gary Wingrove are in Australia this week to meet partners, as the firm evaluates "a range of options to ensure the firm remains well-positioned for the challenges ahead."
- The firm is barred from bidding for new federal government work until September and is reviewing its operating model, cost base, and workforce needs, stating "no decisions have been made regarding any specific measures or potential impact on roles.
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11 Articles
KPMG Layoffs Denied: Accounting Firm Refutes Final Decision on 1,000 Job Cuts Amid Staff Reduction Claims
KPMG Australia has denied making any definitive choice on slashing 1,000 jobs following media claims linking potential redundancies to an ongoing audit misconduct scandal. The firm is evaluating its cost base and workforce needs amid intense regulatory scrutiny and recent leadership changes. KPMG Layoffs Denied: Accounting Firm Refutes Final Decision on 1,000 Job Cuts Amid Staff Reduction Claims.
TPB chair steps aside from KPMG inquiry over conflict rules – report
Australia’s Tax Practitioners Board (TPB) chairman Peter de Cure has removed himself from the regulator’s examination of KPMG’s data misuse after breaching conflict of interest requirements, the Australian Financial Review (AFR) reported. De Cure was a partner at KPMG for close to 25 years until 2013. Earlier this month, he put in place a special conflict management plan that prevented him from discussing the investigation with TPB staff or fell…
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