KPMG's United Kingdom operation is close to succeeding in its plan to avoid layoffs by convincing the majority of its 11,000 employees to potentially work a four-day week or take a short sabbatical at reduced pay.
More than 60 percent of staffers have agreed to the deal, says KPMG EMA Director of Communications Gavin Houlgate. "But, we have not passed the closure of the voting system yet," he adds. "That’s next week, so the final figure may change."
London's Financial Times reports the firm is telling staffers they'll only lose 10 percent of their pay in the deal and that they will have the option of switching back to full time work at the end of the year.
The firm estimates that it will need 75 percent of the staff to agree to avoid cutbacks, the Times says.
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