As reported by Business Today, A multinational professional services network, and one of the Big Four accounting organizations, KPMG is planning to sack nearly 100 jobs in its deal advisory business in the UK.
The layoffs at the organization are expected to impact around 6 percent of the 1,700 KPMG deal advisory team in the UK.
Recently, Microsoft-owned LinkedIn announced to sacking of 668 employees across the engineering, product, talent, and finance teams.
The company said, “Talent changes are a difficult, but necessary and regular part of managing our business. The changes we shared with our team today will result in a reduction of approximately 668 roles across our engineering, product, talent, and finance teams.”
“While we are adapting our organizational structures and streamlining our decision-making, we are continuing to invest in strategic priorities for our future and to ensure we continue to deliver value for our members and customers”, the company added.
The company further said, “We are committed to providing our full support to all impacted employees during this transition and ensuring that they are treated with care and respect.”
The move of layoffs is part of a larger trend as companies cutting jobs and slowing hiring as investors become increasingly fearful of a recession. Tech companies have either frozen the hiring process or laid off many employees.
Amazon sacked 27,000 employees in three months. The major companies that laid off employees include Infosys, Amazon, Google, Byju’s, Wipro, and Salesforce laid off a maximum number of workers globally.
So far in 2023, there have been 1,693 layoffs at tech companies with 370,355 people impacted (1,273 people per day). In 2022, there were 1,557 layoffs at tech companies were 243,318 people impacted (667 people per day).
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