KPMG Cuts 195 US Audit Staff in Fourth Layoff in Three Years (1)

KPMG has cut 195 people from its US audit business to counter low employee turnover rates and changes in how it conducts its core business.

Employees learned earlier this week of the layoffs that hit just over 2% of KPMG’s US audit workforce, according to a person familiar with the company’s operations. KPMG said it is providing severance, access to extended health benefits and career transition services to separated employees.

“We are changing what we do and how we work,” the firm said in a statement. “Our multi-year audit transformation is driving changes in how we conduct our audit and ...