KPMG said it will cut as many as 200 jobs from its U.K. workforce as it became the latest professional services firm to see a slump in demand following the coronavirus pandemic, reported Bloomberg.
The company is planning to cut fewer than 100 roles from its consulting business and a similar number from back-office support staff in departments like HR, according to a statement Wednesday. It’s the second major consulting firm to cull jobs this month after Accenture said it would cut around 8% of staff in the U.K.
For the company areas such as cybersecurity were in high demand, it was a different story in other consulting roles. The firm said it was also considering temporary changes to pension contributions that would affect about 20% of its staff.
“We are operating in highly volatile times and are proposing a series of actions to safeguard our business in the medium and long term,” the firm said.