KPMG to ax up to 500 jobs

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McLean, Va.--KPMG Consulting Inc. plans to cut up to 500 jobs, or 5% of its work force. All of the job losses will come in the U.S. and Canada. "While our overall business continues to grow, we have seen weakened demand for some services, predominantly in the financial services sector, during the latter part of the March quarter," Chairman-CEO Rand Blazer said in a statement. KPMG's announcement comes soon after another Big 5 firm, PricewaterhouseCoopers L.L.P., announced it would cut 1,000 jobs, or 8% of its work force.
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