KPMG Australia Cuts 387 Jobs as Revenue Falls to $2.26 Billion After Audit Leaks
Updated
Updated · ABC News · Aug 24
KPMG Australia Cuts 387 Jobs as Revenue Falls to $2.26 Billion After Audit Leaks
3 articles · Updated · ABC News · Aug 24
Summary
KPMG Australia will cut 27 partners and about 360 staff—5% of its workforce—while reshaping advisory units, with most losses falling in consulting.
Revenue slipped to $2.26 billion in FY2026 from $2.28 billion as the firm lost contracts, especially government work, after allegations partners misused confidential client data and mishandled a whistleblower complaint.
John Sams said more cuts could follow, and internal and external reviews due in coming months will shape the next phase of the firm's rebuild.
Audit and assurance revenue still rose 11% and tax and legal grew 10.9%, but KPMG expects weak consulting demand, subdued economic growth and lower government consultant spending to persist into FY27 and beyond.