KPMG Announces Redundancies; 99 Sackings Take Total to 200 Lay Offs

It is with a sense of regret that the Firm Spy, cap-in-hand, confirms a prediction we made off-handedly in February this year.

On 14 February, we wrote a short post updating readers about the phenomenal sacking of over one hundred staff at Big4 accounting firm KPMG. You’ll recall that in that article, we commented that PwC had made many dozens of workers redundant in two rounds of redundancies, one before and one after the Christmas break. We then offhandedly remarked that:

No doubt KPMG staff are wondering if there is 99 redundancies yet to be made.

And so, it is with regret and a sense of disbelief that we today confirm that 99 redundancies were announced by KPMG, taking the total to 200 after a second wave of redundancies.

A KPMG spy from the Corporate Finance division sent his reaction to the news:

No one from our division has gone in either of the redundancies, but if the axe is swung again, we’ll go too. Everyone thought the first round would be enough but now, after this second one, there is more concern than before that there will be third and fourth rounds… Everyone is now at fever pitch trying to show their value to the partners so that if more sackings come they will be favorably placed.

Will the axe be swung a second and third time at your office? Let the Firm Spy know first!