KPMG tells staff facing the axe: Here's £100, now zip it

KPMG has provided staff facing redundancy £100 to waive their legal rights to appeal or bring claims over job loss, according to sources. The consultancy is cutting around 4 percent of its UK workforce, which amounts to approximately 200 employees who will need to seek new employment before Christmas. Those at risk include staff from the AI, Cyber, SAP, and Testing teams.

On October 1, at-risk staff were informed that the consultation process is complete, and KPMG will notify them of their decision via email on October 9. KPMG's message to staff, obtained by The Register, states that the firm's original proposal remains unchanged. Employees will be notified on October 9, between 11-11:30am, if they have been selected for redundancy.

In addition to controversial exit terms, KPMG is offering £100 to employees who waive their contractual confidentiality and other post-termination obligations. Some staff perceive this as a gag order, describing it as arrogant and disgraceful, especially given the decision to dismiss personnel around the holidays while withholding their earned annual bonuses.

Annual bonuses, which are discretionary and performance-based, are typically paid in January, and are not eligible for payout for staff under notice. KPMG has not provided comment on the £100 payment or the bonus situation. The latest job cuts come six months after KPMG eliminated 600 roles across its UK organization, reflecting the financial pressures faced by the big four accountancy and consultancy giants.