Overview
- KPMG said it will reduce its U.S. audit partnership by about 10 percent, with roughly 100 partners expected to leave.
- The firm framed the step as a multiyear plan to match partnership size and skills to its audit business and said departures are not tied to individual performance.
- Leaders told staff that prior voluntary early‑retirement drives fell short, so the firm is offering financial packages and placement support as partners exit.
- The U.S. audit unit lists about 1,400 partners and managing directors, and managing directors are not included in these cuts; KPMG audits about 10 percent of SEC‑registered companies, trailing some Big Four rivals.
- In the UK, KPMG has been moving some equity partners to salaried roles, a parallel shift that highlights pressure to trim senior costs and protect profit pools across the industry.