KPMG Australia to Cut 400 Jobs Following Audit Leaks Scandal
· Business · ABC News (AU), The Guardian, Reuters
Accounting firm KPMG is cutting 400 jobs, including 27 partners and 360 staff, from its Australian arm. The layoffs follow a decline in revenue from $2.28 billion to $2.26 billion in the 2025 financial year as the firm lost multiple consulting contracts. The job cuts are linked to a scandal involving allegations that audit partners misused confidential client data from Lendlease to support bids for Westpac and Dexus. Chief executive John Sams stated the firm is also responding to broader economic weakness and difficult market conditions. The company is currently facing a federal inquiry regarding its handling of whistleblower complaints.
Why it matters
The downsizing highlights the severe reputational and financial fallout for major accounting firms when client data security and internal governance are compromised.
Read the original report — ABC News (AU)
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