💼KPMG Promotes Tech Head to Group Consulting, Cuts 4% of Division
KPMG's tech head gets a big promotion, but 200 jobs are on the line
TL;DR
KPMG promotes its tech and data head to group consulting, while cutting 4% of the division. The move affects around 200 jobs before Christmas, with £100 pay-off terms for those leaving.
KPMG has promoted its head of technology and data to group head of consulting, a significant move in a time of divisional cuts. The promotion comes as the company faces a 4% reduction in its division, with around 200 jobs being cut before Christmas. The pay-off terms for those leaving are £100. Despite these changes, KPMG's UK and Swiss business saw a 2% year-on-year revenue increase to £3.6 billion, with a profit before tax of £576 million, up 14%. The company continues to invest in its people, skills, and talent pipeline, with an 18% increase in colleague bonus spend. This move is seen as a strategic shift to elevate expertise in innovation, tech, and AI to lead its consulting business.
Key Points
KPMG's head of technology and data promoted to group head of consulting, effective immediately.
The promotion comes as the company cuts 4% of the division, affecting around 200 jobs before Christmas.
Pay-off terms for those leaving are £100, with an interim boss taking over the Tech and Data unit.
Despite the cuts, KPMG's UK and Swiss business saw a 2% year-on-year revenue increase to £3.6 billion.
KPMG's profit before tax increased by 14% to £576 million, with an 18% increase in colleague bonus spend.
Why It Matters
The promotion of KPMG's tech and data head to group consulting is a strategic move to elevate expertise in innovation, tech, and AI. This shift will impact the division's AI, Cyber, SAP, and Testing teams, which are losing around 200 jobs before Christmas. Despite the cuts, KPMG continues to invest in its people and skills, with an 18% increase in colleague bonus spend.
Comments
Be the first to comment
Enjoyed this article?
Get it daily. 7am. Free. Reads in 5 minutes.