KPMG announced layoff of roughly 4% of its U.S. advisory workforce due to weaker demand for regulatory and related services.
The cuts mainly affect consultants in risk advisory, customer operations, and financial services, with about half targeting lower‑performing staff.
No partners were impacted, and KPMG cited over‑hiring during the pandemic and low voluntary attrition as contributing factors.
KPMG said the advisory business remains strong, will support upskilling and evaluate workforce size, shape, and skills.