KPMG has operations in more than 143 countries. Credit: Isabelle Ohara/Shutterstock.

KPMG, one of the Big Four accounting firms, is set to trim less than 4% of its audit staff headcount in the US, reports Reuters citing a source privy to the development.

The decision will lead to approximately 330 job cuts for the firm, which operates in more than 143 countries with more than 273,000 partners and employees.

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A KPMG spokesperson was quoted by the news agency as saying: “The actions reflect our ongoing focus to align the size, shape and skills of our workforce to the market, while addressing continued low levels of attrition.”

The decision to reduce the workforce in the US follows the firm’s previous announcement in October 2023, where the company planned to eliminate around 100 positions in its deal advisory business in the UK.

In June 2023, the firm announced 5% layoffs at its US operations following a pinch of “economic headwinds, coupled with historically low attrition”, a spokesperson for the business said.

Notably, in October 2024, the firm announced the integration of generative AI into global smart audit platform, KPMG Clara, to enhance audit quality through its Trusted AI framework.

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KPMG Clara AI will assist audit teams by refining risk assessments, developing testing procedures, and improving audit documentation.

The AI integration into KPMG Clara is part of KPMG’s broader transformation efforts. AI assistants will screen documents to detect risk factors, including potential accounting and financial risks within meeting minutes.

In the same month, KPMG Lower Gulf launched the new Governance, Risk, and Compliance (GRC) service, called Risk Hub, in the United Arab Emirates.