KPMG reportedly cutting hundreds of jobs

As reported by AFR in late July, Big Four firm KPMG Australia intended to lay off dozens of partners and approximately 1000 staff in September

According to The Australian, KPMG chief executive John Sams emailed firm partners around 19 August to inform them: “Some of you will have seen media attention this afternoon about Partner exits and staff job losses.”

“I want to address this head-on … conversations have commenced this week with impacted Partners.”

The conversations will reportedly run from 19 August to 21 August.

John Sams replaced interim CEO Stan Stavros in July of this year.

Several senior executives and partners have departed KPMG Australia since the scandal began, including former CEO Andrew Yates, former chairman Martin Sheppard, former national managing partner of audit and assurance, Julian McPherson, and audit partners Kim Lawry and Paul Rogers. Lawry departed after the big four accounting firm after Westpac demanded that she be removed from its file.

Former chief operating officer Eileen Hoggett was expelled from the partnership following the discovery of new evidence by Allens.

On top of this, KPMG general counsel Louise Capon and head of HR Dorothy Hisgrove also stepped down from their respective roles.

PwC previously cut hundreds of jobs following the fallout of its own tax leaks scandal back in 2023, which also involved the misuse of confidential material.

At the time, PwC said the decision to cut approximately 300 jobs, and reassign another 200, was “a result of our changed client base and our business environment”.

KPMG declined to comment.

More to come.