KPMG Australia plans 400 job cuts amid leaks

KPMG Australia is cutting 27 partners and about 360 staff, roughly 5% of its workforce, with most reductions in consulting as the firm battles weaker demand and a fallout from a whistleblower and data-handling scandal. Revenue for the 2025 financial year slipped from $2.28 billion to $2.26 billion, and the firm cautions that further declines are likely, particularly in consulting. The company is restructuring by merging its mid-market and private deals teams with the deals and infrastructure advisory unit to bring its structure in line with its global advisory model, while some positions will be cut through fixed-term terminations. Allegations that auditors misused confidential client data and mishandled a whistleblower complaint have damaged contract retention, including potential losses around Lendlease and audit bids for Westpac and Dexus. KPMG has promised support for affected employees and emphasized the need to rebuild trust amid ongoing reviews and a challenging market outlook for FY27. Reports also note that some observers expect additional cuts and that the firm may have sought financial help from KPMG International to stay solvent.