KPMG to cut 10% of audit partners

KPMG has joined other major professional services firms in reducing its senior headcount amidst a challenging economic environment.

The cuts follow a period of lower-than-expected uptake for a voluntary buyout scheme introduced earlier this year.

Affected partners will receive financial severance packages and outplacement support as they exit the firm.

This restructuring reflects a broader trend of cost-cutting among the Big Four as they grapple with shifting client needs and the increasing automation of traditional audit functions.