KPMG will move on a massive overahul of its consulting division that could result in some 200 senior staff losing their jobs for a cost-saving of about $80 million a year.
The Big Four accounting firm employs about 10,000 people across the country, and revealed the massive divisional shake-up on Friday. It’s the latest in a string of redundancies in the sector.
“The traditional ways of working, and some of the legacy assessment and advice services our firm has offered the market are no longer in the same demand. We must now make a rapid, foundational shift to our business to adapt to this generational change.,” KPMG’s national managing partner Paul Howes said.
Broadly the restructure will see KPMG shift towards consulting on emerging technologies, including artificial intelligence, in a shift away from more traditional management consulting.
“There will be around 250 roles impacted in some way. Some teams will transition to other divisions of the firm, and we will be looking to redeploy and upskill as much as possible into areas of high demand, ensuring people with the right skills are in the right places. Regrettably, there will also be redundancies.”
The restructure is set to save the firm about $80m a year. People whose jobs are affected will know by June 21. Any impact to WA roles is not yet known.
More to come.