KPMG is planning to eliminate another 200 jobs within its UK advisory division, in addition to freezing pay for certain staff members in its deal advisory unit. This move comes as the firm grapples with a significant slowdown in the mergers and acquisitions (M&A) market.
The accounting and consulting giant had previously announced job cuts in its advisory arm earlier this year. The current reductions are a further measure to streamline operations and reduce costs amid challenging market conditions.
The decision to freeze pay for some employees in the deal advisory business reflects the ongoing difficulties in this sector, which has been particularly affected by reduced transaction volumes.
