KPMG trims US audit workforce by more than 2% – report

Core Points - KPMG has laid off 195 employees in its US audit division, representing over 2% of its audit staff in the country [1][2] - The layoffs are part of a multi-year audit transformation aimed at adapting to changing market demands and addressing low staff turnover [2][3] - This marks the fourth round of job cuts in three years, with previous reductions occurring in 2022 and 2023 [3] Company Actions - KPMG has committed to providing severance benefits, extended health coverage options, and career transition support to the affected employees [2] - The company is undergoing a leadership transition, with Tim Walsh as the new US CEO and Christian Peo as the audit sector vice chair [3] Financial Context - KPMG reported US revenues of $12.6 billion in 2024 [3]