New York / New Delhi — May 1, 2026
Global professional services firm KPMG is set to lay off hundreds of employees as part of a restructuring move within its advisory division, according to a report by The Wall Street Journal.
The report indicates that approximately 400 employees will be affected, primarily within the firm’s advisory business, which focuses on consulting, financial services, and corporate governance solutions.
Advisory Division Faces Workforce Reduction
The layoffs are part of an internal restructuring effort aimed at aligning workforce capacity with current business demand. Industry analysts suggest that consulting firms have been adjusting staffing levels in response to shifting client priorities and slower deal activity in certain sectors.
KPMG’s advisory division, which plays a key role in delivering strategic consulting services, has reportedly seen pressure amid evolving market conditions.
Why the Layoffs Are Happening
While the company has not publicly disclosed detailed reasons, reports suggest several contributing factors:
- Slower growth in consulting demand
- Cost optimization measures
- Realignment of business priorities
- Global economic uncertainty affecting corporate spending
These trends have been observed across the broader consulting industry, with multiple firms reassessing workforce structures.
Part of a Wider Industry Trend
The move by KPMG reflects a broader trend in the global consulting and professional services sector, where firms are balancing hiring slowdowns with selective job cuts.
Experts note that while demand for digital transformation and risk advisory remains strong, traditional consulting segments have experienced fluctuations due to macroeconomic challenges.
What It Means for Employees and Industry
The layoffs highlight ongoing shifts in the consulting landscape, where firms are focusing on efficiency and profitability. For employees, it underscores the importance of upskilling in high-demand areas such as technology consulting, data analytics, and regulatory advisory.
