KPMG Australia will eliminate roughly 5% of its workforce, including 27 partners and about 360 employees, as the firm responds to persistent soft market conditions and reduced government spending on consulting services.
The cuts, primarily targeting consulting and business services divisions, follow a 1% decline in total revenue to A$2.257 billion for the fiscal year ending June 2026. The firm, which reported revenue equivalent to $1.62 billion at an exchange rate of $1 to A$1.3943, attributed the decline to weaker demand from public-sector clients.
KPMG Australia CEO John Sams warned that economic growth is expected to remain subdued until at least 2028, further constraining client investment and prolonging decision-making processes. The firm has also faced regulatory scrutiny over the misuse of confidential client information, adding to operational pressures.
The job reductions come as part of a broader strategy to align staffing levels with current market demand amid tightening budgets across government and corporate sectors.
