Inside KPMG's Biggest Restructuring in Years — and What It Means for Deloitte, EY, and PwC Candidates Too
Of all the Big 4 firms, KPMG has arguably had the most dramatic workforce story of the past two years. The firm cut more than 3,300 roles between September 2024 and May 2025 — spanning audit associates, advisory staff, and, unusually, senior partners. While Deloitte, EY, and PwC have all made cuts, KPMG's restructuring has been the most sweeping and the most public.
KPMG eliminated approximately 10% of its US audit partners in 2025 — a level of seniority rarely touched in Big 4 layoff rounds, which usually target associates and managers.
Here's what happened at KPMG, who got cut, and what it means if you're considering the firm as a career destination.
KPMG's Layoff Timeline: 2024 to 2025
The cuts unfolded in several distinct rounds across different levels of the organisation.
March 2024 — Advisory cuts: KPMG made its first significant round of 2024, targeting advisory staff. The focus was on divisions where client demand had softened relative to headcount.
November 2024 — Audit workforce reduction: KPMG announced approximately 330 job cuts in its US audit practice — roughly 4% of its 9,000-strong US audit workforce. Cuts targeted associate and manager-level positions. The firm cited "unusually low voluntary turnover" as the primary driver.
2025 — Partner-level cuts: In an unusual move, KPMG eliminated around 100 partners from its US audit and assurance practice — approximately 10% of all US audit partners. This followed a voluntary early retirement programme that didn't attract enough takers.
2025–2026 — Global restructuring: KPMG announced plans to reduce its global country units from over 120 to between 30 and 40 by end of 2026. KPMG also exited its US federal audit practice after losing the US Army contract — a $60 million annual engagement held for nearly a decade.
Why KPMG Cut So Deep
The attrition problem: Big 4 firms rely on steady voluntary departures — typically 15–20% annually — to keep headcount calibrated. When attrition dropped post-pandemic, KPMG was left with too many people for the available work.
Loss of the US Army audit contract: Losing a $60M annual engagement had immediate implications for staffing requirements in the federal audit division.
Consulting demand softening: Advisory work in regulatory risk, financial services, and customer operations slowed — partly due to the US deregulation push under the Trump administration.
AI efficiency gains: Automation is allowing smaller audit and tax teams to handle the same volume of work, reducing demand for entry-level and mid-level roles.
Who Got Cut — and Who Didn't
Audit associates and managers (US): The primary target in 2024. Entry-level and mid-level audit staff bore the brunt of the November round.
Advisory professionals: The March 2024 advisory round hit consultants in regulatory risk, financial services, and customer operations.
Audit partners (US): The 2025 partner cuts were unprecedented in recent Big 4 history. Partners are typically insulated from layoffs; their inclusion signals the depth of KPMG's restructuring intent.
Technology and AI roles: Largely spared. KPMG continues to invest in AI, cybersecurity, and digital transformation — the areas where demand remains strong.
What This Means for Candidates Targeting KPMG
Federal audit is off the table: KPMG exiting its US federal audit practice is a real structural change — don't target that specific area when applying.
Technology and AI practices are the growth spots: KPMG's restructuring is explicitly about reallocating resources toward high-growth service lines. Candidates with technology, data, or AI backgrounds are still in demand.
Graduate hiring is separate from partner-level cuts: Entry-level and graduate programmes operate on different pipelines. The firm is still running graduate recruitment across its service lines.
Stay visible: KPMG's restructuring will take years to settle. Candidates who stay connected through events will be best positioned when headcount reopens.
What Comes Next for KPMG
KPMG's transformation — consolidating 120+ country units into 30–40 global hubs — is one of the boldest restructuring moves in Big 4 history. It's not a retreat; it's a bet that a leaner, more globally integrated firm will be more competitive over the next decade.
For candidates, this means more standardised global practices, clearer career paths, and a firm that will look quite different in 2027 than it does today.
KPMG's restructuring is painful in the short term — but it's being built for a world where AI, global integration, and efficiency define competitive advantage.
The firms undergoing the most change are often the ones creating the most opportunity. Browse upcoming Big 4 events to stay close to KPMG's hiring activity during this transition.
