KPMG Consulting to fire up to 400 employees

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McLean, Va.--In a further sign of the deteriorating consulting marketplace, KPMG Consulting Inc. plans to fire up to 400 employees, or 3% of its work force. A spokesman said the cuts would affect departments across the company, including consultants, analysts and management, though he declined to be specific. The Big 5 firm, which went public in February and is under a great deal of pressure from Wall Street to achieve profitability, also announced that 300 additional employees had chosen to take voluntary three- to six-month leaves of absence, agreeing to work on-call or part-time. KPMG Consulting rivals Accenture and PricewaterhouseCoopers L.L.P. have also recently announced layoffs.
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