KPMG to lay off around 6% of deal advisory employees

Accounting firm KPMG is planning to cut about 100 jobs in its deal advisory business in the UK, Reuters quoted a source as saying.

The layoffs is said to impact around 6 per cent of the 1,700-strong KPMG deal advisory team in the UK, the report said. The decision has been attributed to lower client demand.

The Financial Times first reported about job cuts at the deal advisory team. The newspaper had earlier reported in September that KPMG had planned to lay off 2.3 per cent, or 125, of its UK consultants.

The accounting firm had previously announced layoffs affecting 5 per cent of its US employees in June.

Last month, Deloitte was planning to cut more than 800 jobs in the UK.

Deloitte, KPMG, EY and PwC make up the Big Four accounting firms.

With inputs from Reuters