KPMG Consulting Cutting Jobs

In response to economic factors that are causing companies to cut back on consulting services, KPMG Consulting has announced plans to cut five percent of its workforce, or approximately 450-550 people in the United States and Canada.

This is the company's second round of firings this year. Approximately 350 employees were let go in February.

The firm estimates the cost of the new layoffs will be between $15 and $20 million, and this cost will be reflected in its fiscal third quarter. KPMG Consulting, which trades under the symbol KCIN, is selling for approximately $16 per share.

The layoffs are becoming a trend in the industry. PwC last week announced plans to layoff nearly eight percent of its consultancy employees, and Accenture has warned of an anticipated slowing in growth this year.

You may like these other stories...

For the first time since 2006, more than 50 percent of CFOs believe the US economy will show signs of improvement over a six-month span rather than remain the same or worsen, according to a new study from Chicago-based...
By Jason Bramwell, Staff Writer CPAs in New Jersey, New York, and Pennsylvania believe economic conditions in the United States will likely be the same one year from now, and while they predict higher business revenues...
By Jason Bramwell Managers in accounting, finance, and IT are cautiously optimistic about their hiring plans for the fourth quarter of 2013, according to a new hiring outlook survey from staffing firm Brilliant. ...

Upcoming CPE Webinars

Jul 23
We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.
Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.