KPMG Australia Cuts 387 Jobs After Whistleblower Scandal

John Sams, CEO of KPMG Australia, announced the reduction of approximately 387 positions on August 24, 2026. The cuts include 360 employees and 27 partners, primarily affecting the consulting and business services divisions. Sams stated that the firm made the decision to restructure after careful consideration, acknowledging that the move would have a real impact on people.

The workforce reduction follows a whistleblower scandal where the firm misused confidential client information to secure audit contracts. This crisis led to a leadership overhaul, including the sacking of former COO Eileen Hoggett and the resignations of former CEO Andrew Yates and Chairman Martin Sheppard. Sams admitted the firm must continue working to rebuild trust following its own failings.

Financial performance has declined, with total revenue falling 1% to A$2.257 billion for the year ended June 2026. This was driven by a 17% slump in consulting revenue and the loss of government contracts. The Australian government has barred the firm from bidding on new federal work until September 30 while reviews into governance and ethics continue. Sams warned that difficult market conditions and subdued economic growth are expected to persist through 2028.