KPMG has launched a fresh round of job cuts in its UK business amid a slowdown in dealmaking in the City.
It is understood the move, which was first reported by the Financial Times, will affect about 110 people, or almost 7% of the company’s nearly 1,700-strong UK deal advisory division. Earlier this year it had also warned that its bonus pool for employees was likely to fall this year compared with the previous year.
“These conditions have impacted demand in certain areas, as some clients have chosen to pause or delay projects.