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KPMG freezes pay for 12,000 UK employees amid economic slowdown

Livemint · 1y

Big Four accountancy firm KPMG has frozen pay for 12,000 employees in the UK, according to a report by Financial Times. This comes after the company announced job cuts and pay freezes in its deals advisory arm. The pay freeze also extends to KPMG's tax and legal arm, with bonuses being reduced. Other Big Four firms have also implemented cost-cutting measures due to challenging market conditions. PwC, for example, has warned its UK staff about potential pay freezes and smaller pay rises and bonuses.