KPMG looks to cut numbers

KPMG looks set to cut around 100s jobs and slash pension contributions in a bid to reduce costs.

Sky News says that partners and affected employees were told the ‘news’ in a briefing by UK chairman Bill Michael on Wednesday morning.

Under the plans 100 jobs will go from the consulting business, which employs 3,000 people. A similar number are expected to go from the internal business division.

Sky News also reported that KPMG is launching a consultation on reducing pension contributions to 4.5% of salaries.