KPMG Layoffs 2024: What We Know So Far?

The global professional services firm, KPMG, has experienced its fair share of ups and downs in recent years. As a massive organization employing thousands of people worldwide, the possibility of layoffs is always a concern. 

In this blog post, we will address the rumors surrounding potential KPMG Layoffs in 2024. We will also look back at the layoffs that happened in 2023 and discuss their impact on the company’s employees and overall business strategy. 

Are There Any KPMG Layoffs in 2024?

Although there is no official announcement or headline about any KPMG Layoffs in 2024, there are tons of rumors circulating on the internet. On Glassdoor, a user stated that KPMG had confirmed layoffs in their Advisory and BCG/Advisory Recruiting team in February 2024. Additionally, there was an anonymous post on LayoffTracker proclaiming “KPMG Layoffs coming in June 2024!” 

It is essential to understand that these are merely rumors at this point, and there is no official confirmation from KPMG. As such, we recommend waiting for an official statement before jumping to conclusions. Layoffs are a sensitive issue, and spreading unconfirmed information can cause unnecessary stress and anxiety among employees and stakeholders.

KPMG Layoffs 2023: A Recap

In 2023, KPMG announced multiple layoffs, which affected thousands of employees. There were two major rounds of layoffs during that year. In the first round, KPMG laid off 700 people in the United States. Following that, the company laid off nearly 2,000 employees, which equated to about 5% of its workforce.

These layoffs came despite KPMG’s revenue growing by 14% in the previous year. The firm stated that the layoffs were necessary due to challenging economic conditions and lower-than-expected staff turnover. As part of their commitment to supporting affected employees, KPMG provided severance pay, career services, and health benefits to those who were laid off.

What Does KPMG Do?

KPMG is a leading provider of professional services, specializing in three main areas: audit, tax, and advisory services. These services are vital for businesses and organizations, ensuring compliance with regulations, minimizing risk, and providing valuable insights for growth and development.

1. Audit Services: KPMG’s audit services aim to provide clients with an accurate and transparent assessment of their financial statements. This helps businesses to build trust with investors, regulators, and other stakeholders by demonstrating financial integrity and compliance with accounting standards.
2. Tax Services: KPMG’s tax services cover a wide range of areas, including corporate tax, indirect tax, and international tax. Their tax professionals help clients navigate complex tax regulations, minimize tax liabilities, and ensure compliance with tax laws in multiple jurisdictions.
3. Advisory Services: KPMG’s advisory services assist clients in various aspects of their businesses, such as strategy, risk management, and technology. These services help organizations identify growth opportunities, manage risks, and improve overall performance.

How Many Employees Does KPMG Have?

KPMG boasts a massive global workforce. As of 2023, the firm employs a staggering 270,000+ people around the world. This makes it one of the biggest professional services networks in existence. Their team is spread across 145 countries and territories, offering expertise in audit, tax, and advisory services to a wide range of clients.

This number reflects significant growth for KPMG. They surpassed the 200,000 employee mark in 2018 and have continued to expand their reach ever since. This growth is likely due to several factors, including increasing demand for their services in a globalized economy and their focus on creating new jobs and attracting top talent.

Conclusion

As of now, there is no concrete evidence or official announcement supporting the rumors of KPMG Layoffs in 2024. It is crucial to remain cautious and avoid spreading unverified information. However, it is also essential to be aware of the company’s history and the layoffs that occurred in 2023. 

While the future remains uncertain, employees and stakeholders must stay informed and prepared for any potential shifts in the business landscape. By doing so, they can better navigate the challenges that lie ahead and adapt to any changes that may occur.