Today's Labour News

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KPMGFin24 reports that beleaguered audit firm KPMG expects some 400 people to leave the firm as it shuts several regional offices.  The company announced on Monday that it was "reshaping" its business and "strengthen[ing] leadership capacity".  

KPMG said in a statement:  "These changes follow a strategic review of the firm’s activities and take into account recent client losses and current levels of demand for certain services.  They are the latest in a series of initiatives announced by the firm in recent months to support its drive to restore KPMG’s strength in South Africa.  We anticipate up to 400 people leaving the firm as a result of our plan to close certain regional offices, operate a refocused advisory business and scale back our internal business support to reflect our reduced footprint."  The business will continue to operate out of Johannesburg, Cape Town, Durban and Port Elizabeth and will “continue to offer a wide range of the core services that our global, regional and local clients require."  The SA Institute of Chartered Accountants (Saica) is conducting a probe into KPMG staff.  KPMG, meanwhile, has lost millions in fees due to a growing list of clients dumping the company.

  • Read this report by Marelise van der Merwe in full at Fin24
  • Read too, KPMG to lay off 400 employees in latest shake-up, at Moneyweb

Get other news reports at the SA Labour News home page