KPMG Australia unveils consulting restructure, job cuts
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The news: KPMG Australia has outlined plans to reshape and simplify its consulting division, impacting around 250 roles, guided by changes in the global professional services market.
The numbers: The transformation is expected to realise additional annualised savings of around $80 million for the professional services group, which will be reinvested in digital solutions, alliances, industry expertise and new delivery methods.
KPMG said the changes will impact around 250 roles "in some way" and confirmed that there would be redundancies. Impacted staff would be notified by 21 June.
The context: KPMG noted that "the changes are not unique to Australia", as its international branches continued to adapt to meet new market demands. The group said its consulting plan would look to rationalise services and sectors to better reflect market need and clearly articulate the offerings KPMG delivered to its clients.
The plan would also break down existing siloes to bring the right capabilities to deliver value for clients, it said.
What they said: KPMG's national managing partner of consulting Paul Howes said: "Our clients are expecting us to help them leverage technology to transform their businesses at a much faster pace.
"The traditional ways of working, and some of the legacy assessment and advice services our firm has offered the market are no longer in the same demand. We must now make a rapid, foundational shift to our business to adapt to this generational change.
"This is not about minor adjustments, but about flipping our business to have a strong focus on transformation — utilising emerging technologies, including AI. By evolving our business in this way, we are positioning KPMG Consulting, our clients and our people to thrive in the future."
The source: KPMG Australia media release
