KPMG and Deloitte Offer Enhanced Redundancy Packages to Reduce 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. With fewer staff leaving voluntarily due to a tight jobs market, the firms have been forced to lay off around 600 audit middle-tier jobs so far this year. KPMG is offering a minimum of eight weeks' basic salary, waiving the two-year service requirement for statutory redundancy pay and removing the £751 weekly cap, calculating payouts based on actual salary. Deloitte has offered a voluntary redundancy package including eight months of full pay. The enhanced packages are designed to incentivize staff to waive potential legal claims via settlement agreements. Some long-serving KPMG staff expressed dissatisfaction that junior employees received similar packages.
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