TFS Gulf 
- KPMG Australia swung the axe again in FY 2024–25, cutting 635 jobs, including 21 partners.
- Meanwhile, equity partners enjoyed a 10.3% pay bump, pushing their average past $715,000
- CEO Andrew Yates walked away with a hefty $790,000 raise, according to The Australian.
The layoff story
In 2024, KPMG Australia laid off about 200 senior consulting roles, roughly 5% of its 4,000-strong advisory crew.
About 50 of those professionals dodged the exit by landing new roles inside the firm.
The reason? The leaders called it part of an $80 million cost-cutting and tech overhaul.
But FY25 saw the firm going deeper: 635 roles cut, reducing headcount to about 8,967.
Yet, it’s not all bad news
KPMG Australia also welcomed:
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637 fresh graduates
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71 newly minted Partners (now total Partners is 684)
So the firm is still investing in fresh talent and leadership.
FY25 Revenue breakdown
- Audit & Assurance: $365 million
- Consulting: $749 million
- Deal Advisory & Infrastructure: $332 million
- Enterprise: $434 million
- Tax & Legal: $240 million
- Other (including KPMG Futures): $11 million
Slump in consulting demand: With fewer organisations seeking large-scale advisory work, the firm has been forced to streamline operations for a tougher market environment.
Weaker government consulting budgets and sector-wide scrutiny (particularly following the PwC tax leak scandal) have intensified pressure on the advisory pipeline.
AI at the core: In the FY25 Impact Report, the firm also mentioned that it’s adapting to fast-changing market conditions with a refreshed, firmwide strategy…With none other than AI at its core.
And let’s not forget Offshoring: KPMG, like other Big 4s, are leaning more on offshore teams and tech-powered efficiency.
A key driver of this shift is KPMG Global Services (KGS) India. KGS’s talent pool helps KPMG’s global member firms by delivering consistent, high-quality work at competitive costs.
Wrapping up…
KPMG Australia’s layoffs highlight the mounting challenges facing consulting firms worldwide.
A cooling market, rising cost pressures, and the urgent push toward AI and offshoring are forcing a complete rethink of the playbook.
Also read: KPMG US & UK acquire 33% stake in KPMG Global Services (KGS) for $210Mn!
Q: How much revenue did KPMG Australia generate in 2025?
KPMG Australia reported an annual revenue of $2.315 billion in FY25. That was a slight decline from last year’s revenue ($2.386 billion), as demand for advisory services weakened in both the private and public sectors.
Q: What is KPMG KGS?
KPMG Global Services (KGS) is a strategic global delivery organisation providing services to KPMG member firms across the world. KGS has a significant presence in India, with offices in multiple cities like Bengaluru, Gurugram, Hyderabad, Mumbai, Kochi, Noida, Kolkata, and Pune.
Q: Does KPMG KGS cater to KPMG Australia, too?
Yes. KGS, specifically KPMG Global Services India, provides support to over 50 KPMG firms globally, including those in Australia. They offer a range of services, including Deal Advisory & Strategy, and other advisory, tax, and audit support.
(Source: The Australian, via internet)
