KPMG is cutting approximately 200 jobs from its UK advisory business, including roles in AI and cyber security, representing about 4 per cent of the division. Staff are expected to leave in October following an ongoing consultation. The redundancies follow a series of job losses at the Big Four firm, including a previous announcement to cut close to 600 UK jobs six months prior.

The firm cited the need to "right-size" capacity amid low staff attrition and subdued demand. KPMG's advisory business, which includes consulting and deals work, saw sales fall 3 per cent in the year to September 2025, mirroring contractions at EY, PwC, and Deloitte. The downturn has lasted longer than initially expected following the pandemic-era boom.

KPMG employs about 15,800 people in the UK, down from 16,600 the previous year and more than 17,000 during the pandemic. The latest cuts are part of a broader drive to control costs under UK senior partner Jon Holt, which has helped improve profitability. KPMG reported profit before tax of £576mn last year, a 14 per cent increase.

Average distributable profit per partner rose 11 per cent to £880,000. A KPMG UK spokesperson stated the firm is adapting to market dynamics and low attrition by proposing reductions in advisory client-facing teams to ensure the right skills are in place to serve clients.