October 30, 2020

Oh No, KPMG U.K. Senior Executives Might Not Be Able to Afford Christmas This Year

I’m sure all you KPMG U.K. grunts are heartbroken over this news:

After all that’s gone wrong at KPMG over the past year, its UK leadership probably didn’t expect big bonuses. Still, after the hard graft of trying to engineer a turnround, a £6m pay cut is going to hurt nonetheless. The 25 senior managers who sit on KPMG’s UK board and executive committee got an average payout of £840,000 in 2019, down from £964,000 for the 28 board members in 2018. KPMG’s 623 UK partners saw their own share of profits fall by £52,000 each after profits tumbled 14 per cent.

Sorry little Andy, you might not be getting all three Tottenham Hotspur 2019-20 kits you’ve dreamt about, and little Rachael, you probably won’t be getting that stable of ponies you’ve always wanted.

What a shame.

Opening Quote: ‘Twas the week before Christmas, and there was a flurry of deals [Financial Times]

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