Due to a series of economic obstacles, the global professional services network company, KPMG announced this week the 5% cut in its payroll in the United States, as confirmed by the firm’s spokesman.
The company mentioned in an email that “we do not take this decision lightly. However, we believe that is best for our company in the long term and will position us for success continue in the future,” he said.
According to KPMG for the closing of the fiscal year on September 30, the company had approximately 39,000 employees in the United States; However, since 2022, like many other companies, it was calculating a reduction in expenses, including waves of layoffs in the face of the possible economic recession.
With this decision, KPMG joins other companies that have announced massive layoffs since last year. For example, in April, the US division of Ernst & Young reported the layoff of 5% of its staff. Ford indicated in January that some 3,800 people in its European workforce would be laid off.
Disney laid off 7,000 employees, Meta in its third wave of layoffs cut 1,000 jobs, 3M cut 6,000 workers and Gap cut 1,800 jobs. All this in view of the economic instability that the country has experienced since last year due to high inflation, the accelerated pace of the Federal Reserve with the increase in interest rates that have put pressure on the labor market.
Source: La Opinion