Bonanno has worked for KPMG for 10 years.
Xavier GALIANA / AFP via Getty Images
KPMG Australia is laying off hundreds of staff amid a major whistleblower-led scandal and slowing demand for consulting.The Big Four firm plans to reduce its workforce by approximately 5%, KPMG Australia said in its annual earnings release on Monday.That includes 27 partners and 360 employees. Most of the affected roles will be in the consulting business, the company said.KPMG Australia employs roughly 10,000 people, including 600 partners, according to its website.KPMG said it had made the decision regarding layoffs after reviewing its costs and future workforce needs in response to continued economic weakness, difficult market conditions, and the impact of its conduct and whistleblower matters.Since March, KPMG has been battling whistleblower allegations that it misused confidential client information to bid for audit contracts.KPMG Australia's CEO, audit boss, and chairman have since stepped down, and the firm has confirmed the misuse of internal documents by staff. There is an ongoing parliamentary inquiry into its conduct.At a parliamentary hearing in Canberra on August 13, Deborah O'Neill, a Labor Party senator and chair of the committee investigating KPMG's conduct, said there "are many, many more who are contacting us and they are talking about a repeat of the same behaviour."
