KPMG Australia cuts 387 jobs amid revenue decline

KPMG Australia announced on August 24, 2026, that it will cut 27 partners and approximately 360 employees, representing about 5% of its workforce. The reductions are part of a restructuring effort as the firm deals with declining revenue and the fallout from a whistleblower scandal involving the misuse of confidential client information.

The job cuts, which primarily affect the consulting division, were confirmed by Chief Executive John Sams. Most of the roles were in consulting, where client demand has weakened. Staff were informed of the redundancies during a firm-wide call on August 24. The restructuring includes merging several teams and aligning them more closely with KPMG's global advisory business. Specifically, the midmarket and private deals team is moving into deal advisory and infrastructure, and the advisory team is moving into consulting.

The decisions follow what Sams labeled a challenging year. For the financial year ended June 30, 2026, KPMG Australia recorded total revenue of A$2.257 billion, a decline of 1% from the prior period. Consulting revenue fell by 16.9%, which the firm attributed to soft market conditions and reduced government use of consultants....