KPMG is reportedly cutting 600 jobs across the UK, as the leadership fear the firm will miss key budget targets.
The audit teams are losing some 440 assistant manager roles, around 6% of the current team strength.
And, 120 advisory jobs will also be lost.
In a statement KPMG said: “In our audit business, alongside hiring for growth, we expect to see a regular pattern of natural attrition. But current market conditions mean our attrition rates are very low within certain parts of our audit population, which is why we are proposing to right-size those areas.
“This isn’t a decision we take lightly, and we will support our people throughout this consultation.”
A consultation on the redundancies will now run until May.
