‘Big Four’ accounting firm KPMG UK is set to cut close to a third of its administrative assistants, in a bid to cut costs.
According to a report from the Financial Times, between 200-250 staff are set to leave the firm. The firm is set to create 24 new support roles in its Birmingham office, where it runs an administrative function, as part of the restructuring.
The restructuring will mean some partners, will no longer have access to a personal assistant and are being encouraged to file their own expenses.
According to the report, personal assistants have contacted other professional services firms seeking alternative work in fear of losing employment.
A spokesperson for KPMG told the paper: “We are not taking these steps lightly, but we believe the proposed structure will enable us to deliver the best possible experience for our clients. We are now in the process of consulting with affected staff on the plans.”
The spokesperson added that it was part of the firms 18-month plan to ‘focus’ on its audit business and changing its governance structure.
The firm reported an 18% increase in it profits last year to £356m, and according to latest figures employs over 14,500 staff in 22 offices across the UK.