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Why is KPMG laying off 5% of its employees?

KPMG is laying off 5% of its U.S. employees after feeling the pinch of "economic headwinds, coupled with historically low attrition," a spokesperson for the Big Four accounting giant said on Monday.

What happened to KPMG & Deloitte?

KPMG was the first US Big 4 firm to announce layoffs earlier this year, 700 or so people in advisory. Since then, Deloitte let go of about 1,200 people and EY 3,000, though EY’s was related not only to market conditions but that whole Everest thing costing the firm hundreds of millions of dollars.

Why is K PMG laying off employees?

K PMG is laying off hundreds of employees in its U.S. auditing business as it works to make up for lower levels of voluntary turnover. The Big Four accounting firm last week notified about 330 people, or nearly 4% of its roughly 9,000-person U.S. audit workforce, that they would be let go in the coming weeks, people familiar with the matter said.

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