KPMG recently released their financial results around the globe. In most jurisdictions, they do not release partner pay. However in the UK, they do release this information. From this information we can learn how much their partners make. KPMG released that they made £2.96 billion in 2023. In Uk terms they made £364 million
I wanted to make a quick post about the McKinsey news regarding severance and layoffs. They offered UK senior employees the option of 9 months severance instead of being laid off. They were also offered assistance in searching for a job. They are also offering other career coaching assistance. There has also reportedly been
The big 4 are once again getting ready for a downturn. The downturn has already hit the consulting market and Deloitte is making moves to address. They are going through a huge internal restructuring to deal with this. This is reportedly the largest reorganization in a decade for Deloitte. There will be 2 new
For the fiscal year ended September 30, 2023, KPMG announced revenues of $36 billion. This represents growth of 5%. Headcount grew to more than 273,000 people globally. This represents a growth of about 3%. Audit grew by 7%. Tax grew by 10% and Advisory grew by 4%. That is pretty bad news for KPMG.
In a recent Wall Street Journal article, PwC stated that they plan to limit the consulting services that they offer clients. They plan to do this by 2025 for their SEC audit clients. They will do this by employing a number of new policies when performing consulting projects. One huge piece of news in
PwC Canada recently laid off about 2% of their workforce in silent layoffs. What does this mean for everyone? To me this doesn't mean that much. The big 4 have been warning for months that the economy isn't good. Many have said that they won't fire people, but obviously PwC isn't one of them.
The Guardian featured an opinion piece criticizing the big 4 this past weekend on June 3. They were mainly criticizing PwC, but they also threw some shots at the other firms. They started out with mentioning the size of the big 4 and how much revenue they make. They also mentioned how much revenue
2023 has proven to be a tough year economically for many companies. There has been a huge lift in the tech market related to AI however other industries have suffered. Consulting is one of those industries and that is why the big 4 accounting firms have started to lay people off. Most of their
Grant Thornton has announced that they will be laying off 300 people in the United States. This is about 3% of the US workforce. Grant Thornton is based in Chicago Illinois. KPMG and EY have already said that they will also have layoffs. EY said that they will lay off about 3,000 people in
PwC leaked the inner working of the Australia Tax Office over a number of years. That leak was uncovered in 2023. This leak occurred in 2023 by a PwC partner named Peter Collins. How did Peter receive this information? He was helping the Australian government design better tax laws. On its face this isn’t
