KPMG to Redesign US Audit Leadership Amid Voluntary Retirement Plan Reevaluation

KPMG Announces 10% Cut in US Audit Partners

KPMG, one of the Big Four accounting firms, has announced plans to cut approximately 10% of its audit partners in the US. According to reports, around 100 partners will be exiting the firm, with some having agreed to leave through voluntary early retirement and others being part of the latest cuts.

The firm's audit division employs around 1,400 partners and managing directors, based on KPMG's January audit-quality report. However, managing directors are not included in the current cuts. The job reductions are part of the firm's efforts to streamline operations in the audit business, rather than addressing individual poor performance.

Streamlining Operations

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KPMG stated that the job cuts are connected to a multiyear strategy to align the size, shape, and skills of its team to the power of its audit platform. This move aims to best serve clients and protect the capital markets. The laid-off partners will receive financial packages and placement support, reflecting the value they have given to KPMG and its clients.

Despite the cuts, KPMG's US audit business is growing. The firm audits around 10% of companies registered with the US Securities and Exchange Commission, according to an Ideagen Audit Analytics report released in March. This places KPMG behind its rivals, with Deloitte auditing 15% of companies, EY auditing 13%, and PwC auditing 12%.

Comparison of US Audit Market Share

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The job cuts come close on the heels of other major announcements in the tech industry. Meta plans to cut over 8,000 job roles and leave 6,000 roles unfilled as it ramps up spending on artificial intelligence (AI). Microsoft is offering voluntary buyouts to about 8,750 employees in the United States, covering nearly 7% of its domestic workforce. Collectively, these announcements have led to the cutting down of over 24,000 jobs in the US in a single day.

More than 81,200 employees have been laid off by 97 tech firms so far in 2026, according to layoffs.fyi, an independent real-time tracker of job losses in the tech and startup sectors across the world. Popular sneaker brand Nike has also announced trimming its technology department by cutting down 1,400 roles, the second round of layoffs announced by Nike this year, following 775 roles reportedly eliminated in January.