KPMG Australia will cut 27 partners and about 360 employees, roughly 5% of its workforce, as total revenue for the year ended June 30 reached A$2.257 billion, down 1%, with consulting revenue falling 16.9%. The firm is dealing with fallout from allegations that confidential client information was misused, prompting it to voluntarily stop bidding for new Commonwealth work until an independent Department of Finance review concludes, expected by end of September. CEO John Sams said the decision was not taken lightly and would have a very real impact on people.
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