KPMG and Deloitte Offer Enhanced Redundancy Packages to Cut UK Headcount
City AM reports that KPMG and Deloitte, along with PwC, are offering UK staff significantly enhanced redundancy packages to reduce headcount amid a slowdown in the sector's traditional attrition model, where 15-20% of staff typically quit annually. A tight jobs market has reduced voluntary departures, forcing the firms to lay off staff. KPMG is cutting over 500 roles, waiving the two-year service requirement for statutory redundancy pay and removing the £751 weekly pay cap, offering a minimum of eight weeks' basic salary. Deloitte is laying off nearly 200 audit roles through a voluntary redundancy round offering eight months of full pay. PwC has also conducted targeted voluntary exits. The enhanced packages are designed to incentivize employees to waive potential legal claims via settlement agreements.
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