KPMG is slashing 360 jobs and 27 partners as its consulting arm tanks and audit clients wobble amid a whistleblower scandal. CEO John Sams called the moves tough but essential, citing a 17% revenue drop in consulting and plummeting partner pay—down 13%. Clients like Lendlease are eyeing switches, Macquarie is reviewing its $70M contract, and the whole professional services sector is under pressure from slowing growth and shifting demands. Consulting revenue’s expected to keep falling, audit growth may reverse, and KPMG admits it’s paying the price for internal missteps—already firing one partner and launching deeper reviews. They’re focused on rebuilding trust, supporting staff, and adapting fast in a volatile market.
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