KPMG Australia is planning to reduce its workforce by 5% across consultancy and business services, according to its FY26 results release!
That means 27 partners and 360 employers will be leaving. KPMG said continued economic weakness, difficult market conditions, and the impact of the firm’s conduct and whistleblower matters all played a part
KPMG Australia CEO John Sams said: “Economic growth is expected to remain subdued until at least 2028, affecting client investment and extending decision-making timeframes. The professional services sector is also changing rapidly as client expectations evolve, AI reshapes the way services are delivered and government spending on consultants remains lower. We also recognise the challenges created by our own failings, and the work we must continue to do to rebuild trust.”
For the year ended 30 June 2026, KPMG Australia recorded total revenue of $2.257 billion, down 1% on the previous period. A continuation of soft market conditions, as well as a continued reduction in use of consultants by governments resulted in a 16.9% decrease in revenue for the consulting business, compared to the prior year. Average equity partner remuneration declined 13% on the previous year.
