KPMG lays off 4% of its advisory team over slowing demand

KPMG cuts workers in US advisory division as demand slows for services related to regulatory risk advisory, customer operations and financial services.

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• KPMG cut some 400 US consultants amid slowing demand in key sectors.
• Employee attrition rates have been lower than expected.
• KPMG is still hiring for AI transformation, focusing on engineers.

Big Four firm KPMG laid off about 400 consultants in its US advisory division on Wednesday.