KPMG Australia to cut 1,000 staff after scandal

·       KPMG Australia announced plans to lay off dozens of partners and 1,000 staff in September, equal to more than 10% of its workforce.

·       The firm faces shrinking private sector bookings, public sector bidding bans, and partner pay cuts averaging $144,000.

·       Global leadership intervened to stem the fallout from an audit misconduct scandal and address severe revenue problems.

KPMG Australia will cut 1,000 staff and dozens of partners in September following an audit misconduct scandal.

The planned redundancies represent more than 10 per cent of the workforce and respond directly to a shrinking pipeline of work.

"No decisions have been made regarding specific cuts, and we are determined to make responsible decisions that position the firm for a sustainable future," stated a KPMG spokesperson.

The firm remains banned from bidding for public sector work at the federal level and in New South Wales and Victoria until late September.

The Australian firm operates as part of a global network providing audit, tax, and advisory services to corporate and government clients.

Recent market moves include losing long-standing clients like Lendlease and facing parliamentary scrutiny over governance and workplace culture.