Monday, November 17, 2008

KPMG Cuts 400 jobs

KPMG has laid off around 400 people nationally, reducing by about 2 percent its workforce of 24,000 people in 80 U.S. offices.

“KPMG’s business remains quite strong,” says company spokesperson Dan Ginsburg. “Clearly, the economy has caused some businesses to delay some discretionary projects. In order to improve efficiencies, we have had some very targeted force reductions.”

Despite the cuts, KPMG is still active in the hiring market. “We continue to recruit on college campuses, as well as in the experienced marketplace for specific skills,” Ginsburg says.

Why recruit and cut at the same time? Ending recruiting can cause problems when the economy turns around. For example, cutbacks during the last recession led to the current shortage of accountants with seven to 10 years experience.

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