Layoffs and Compensation Watch ’12: KPMG

KPMG has made good on its promise to send over 300 of its UK employees packing, but, reportedly, there's a bit of a surprise for everyone who remains:

Some 340 jobs were cut at KPMG following its headcount reduction plan, and a pay freeze has been implemented across KPMG. An internal email to staff said that plans to cut up to 3% of its workforce were now complete. The email contained a video link, in which the pay freeze was announced, reported the Evening Standard.
Accountancy Age also reports that the UK firm had "£1.7bn in revenues for the year ending 30 September 2011, with profits falling 5% to £396m," so we'll see if the Kampers fair better here in the States. Stay tuned.
 

 

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