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KPMG tells staff facing the axe: Here's £100, now zip it
KPMG has offered staff facing redundancy £100 to waive their legal rights to appeal or to bring claims over the loss of their job, according to sources.
2 min read
Key points
- KPMG has offered staff facing redundancy £100 to waive their legal rights to appeal or to bring claims over the loss of their job, according to sources.
- On October 1, those at risk were told the consultation process is over and KPMG will inform them of their fate by email on October 9.
- In a message to staff, seen by The Register, KPMG said: “The collective consultation process has now formally concluded.
The story
KPMG has offered staff facing redundancy £100 to waive their legal rights to appeal or to bring claims over the loss of their job, according to sources. As The Register revealed last month, the consultancy is laying off around 4 percent of the workforce in the UK, equating to some 200 humans being forced to look for new employment in an uncertain job market before Christmas. Staff within the AI, Cyber, SAP, and Testing teams are at the sharp end of the corporate job cutting exercise. On October 1, those at risk were told the consultation process is over and KPMG will inform them of their fate by email on October 9. In a message to staff, seen by The Register, KPMG said: “The collective consultation process has now formally concluded. The firm's original proposal remains unchanged. Employees will be notified on Friday 9th of October 11-11:30am by email if they have been selected for redundancy.” In addition to exit terms that some at KPMG previously described to us as insulting, The Reg understands the consultancy is offering £100 in exchange for employees' existing contractual confidentiality and other post-termination obligations. Some staff see it as a gag order. “The firm's original proposal remains unchanged,” one insider claimed, “offering marginally above statutory terms alongside a nominal £100 consideration for employees to waive their legal rights to appeal or bring claims. “The prevailing consensus among staff [is that] this approach is arrogant and disgraceful, particularly given the decision to dismiss personnel right before the holidays while withholding their earned annual bonuses,” the source added. Annual bonuses are discretionary, performance-based, and typically paid in January. KPMG has not communicated with staff on bonuses for 2026 but we understand anyone under notice (given or received) is not eligible for a payout. KPMG refused to answer questions The Reg asked about the £100 payment or the bonus situation. Instead, a spokesperson re-sent its earlier statement: “As our market evolves, we are adapting where we are focusing and how we are set up to make sure we have the right skills in place to best serve our clients. To respond to these market dynamics combined with low levels of attrition, we are proposing reductions in some of our advisory client-facing teams and will support our colleagues throughout this process.” The latest job cuts come six months after KPMG expunged 600 roles across the UK org chart, and is indicative of the financial pressures facing the big four accountancy and consultancy giants. PwC UK is merging two of its advisory businesses in response to the disruption caused by AI. ®
