Big Four firm KPMG is preparing to slash hundreds of jobs and reduce partner pay by up to 20 per cent, as the fallout from the audit leaks scandal continues.
Senior leaders at KPMG Australia, which has about 9000 staff and 700 partners, are scrutinising client bookings to gauge the scale of the hit to its pipeline of work and are examining ways to offset it by cutting costs.
While the redundancies are yet to be finalised, they are likely to be spread across the firm. Two sources, who spoke to the Financial Review on the condition of anonymity, said the number of layoffs could even exceed 1000.
KPMG prepares to cut hundreds of staff amid leaks scandal
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