(Bloomberg) -- KPMG UK is planning to cut 125 consulting jobs in the UK in response to falling demand and challenging economic conditions, according to a person familiar with the matter.
The firm has started a consultation process to reduce client-facing roles in the consulting arm, the person said. The firm is also shifting some employees to more in-demand areas within the company. The cuts represent 2.3% of staff in the unit.
KPMG is the latest of the so-called Big Four firms to introduce cuts in the UK. Rival Deloitte is set to cull 800 UK roles last week, while EY announced it’s cutting 5% of staff in its UK financial services consulting division. PwC has said it’s cutting pay increases and bonuses for some of its 25,000 UK employees.
Read more: The Great Resignation Turns Into Great Stagnation for Big Four
The FT reported the news earlier.
©2023 Bloomberg L.P.