KPMG Cutting US Workforce 5% in Second Round of 2023 Layoffs (1)

KPMG LLP said Monday that it would hand out layoff notices to nearly 5% of its US workforce—or nearly 2,000 positions—to counter challenging economic conditions and low turnover rates.

“We believe it is in the best long-term interest of our firm and will position us for continued success,” the firm said in a statement.

The latest reduction of the Big Four firm’s 39,000-person US workforce marks its second round of layoffs this year and goes beyond KPMG’s typical year-end performance-focused cuts. It also marks an abrupt strategic shift from early 2022 when it hiked incentives to keep ...