KPMG is restructuring by merging member firms!

• KPMG is merging its smaller member firms—especially those bringing in under $300 million in revenue—into larger clusters.

• Global Chairman Bill Thomas steps down in September 2026; KPMG aims to complete the restructuring before this!

• The changes will help the firm stay ahead of evolving regulations, improve efficiency, retain talent, and enhance audit quality.

What is happening?

In 2023, KPMG had over 120 units, but it has since reduced this number to around 751 Yes, you heard this right!

Guess what…KPMG aims to further cut this down by another 50% to between 30 and 40 by the end of next year.

Smaller units (<$300M revenue) will be combined into larger clusters!

For instance, KPMG is combining its offices in 13 African countries into one big team this year.

But why the merger?

KPMG is looking at a long-term growth approach.

This restructuring is part of a broader effort to create larger, more scalable clusters!

Rather than functioning independently, these country firms will be integrated into larger regional clusters with unified leadership, governance, and investment strategies.

By consolidating, KPMG’s move is a proactive step to:

• Strengthen audit quality and governance
• Improve investment in technology and services
• Create a more attractive work environment for employees

Also read: Saudi Arabia’s PIF, $925Bn sovereign wealth fund bans PwC

Some important stats to remember

• KPMG operates in 145 countries and territories.
• It employs over 236,000 people worldwide.
• In 2024, the firm reported $38.4 billion in revenue.

Also read: Layoffs at KPMG in its US Audit division

Wrapping Up…

The accounting industry is facing slowing growth in some areas.

On top of it, regulators worldwide have been tightening oversight on audit firms due to high-profile accounting failures.

A reason why other firms like PwC and EY have also explored restructuring to adapt to changing market conditions.

With this transformation, KPMG is betting on a more integrated and resilient global network to better serve its multinational clients and navigate the evolving financial landscape.