KPMG is set to reduce its US audit partner ranks by about 10%, in a restructuring move that comes after years of unsuccessful efforts to encourage voluntary early retirements.
The decision will affect roughly 100 partners in the firm’s US audit division. According to reports, some partners had already opted for voluntary exit schemes, but the numbers fell short of what the firm needed to rebalance its leadership structure.
KPMG said the cuts are not linked to individual performance. Instead, the firm is focusing on aligning the size of its audit partnership with the actual needs of its business. The goal is to better match staffing levels with client demand and improve overall efficiency in the audit practice.
Partners impacted by the decision are expected to receive financial exit packages along with support to transition into other roles or opportunities outside the firm. Managing directors within the audit division will not be affected by this round of reductions.
The move is part of a broader restructuring trend within the Big Four accounting firms, which have been adjusting their workforce after pandemic-era hiring increases and slower-than-expected staff turnover. Many firms have faced challenges in balancing workforce size with changing market conditions.
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