Aug 24, 2026 – 11.08amKPMG will slash 5 per cent of its workforce and cut partner pay by 13 per cent in the first stage of a cost-cutting program triggered by a document-misuse scandal that is affecting future sales and has led to falling demand for the firm’s consulting services.The big four accounting firm said the cuts would include 27 partners and 360 staff, after it reported that annual revenue for the year to June 30 fell 1 per cent to $2.1 billion. Consulting revenue fell, but this was offset by growth in the audit, tax, and legal divisions. Average partner pay will also be cut by 13 per cent, or about $72,000, to $645,000.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles