KPMG Australia to Lay Off 5% of Workforce After 17% Slide in Consulting Revenue
KPMG Australia plans to lay off approximately 5% of its staff following a 16.9% decrease in consulting income. The job cuts will impact 27 partners as well as around 360 staff members. The majority of roles eliminated are in consulting and business services.
Professional services pressure gauge
KPMG cuts expose consulting’s weak spot
Live market snapshot: August 24, 2026, 10:45 EDT / 16:45 CEST
Accenture (NYSE:ACN) is the listed peer proxy.
Accenture (NYSE:ACN) is the listed peer proxy.
−16.9%
KPMG Australia consulting revenue, FY26
−5%
Workforce reduction: about 360 staff and 27 partners
A$2.26B
KPMG Australia FY26 revenue, down 1%
28%
Consulting share of KPMG Australia revenue
Accenture live proxy
$186.81+0.82%
$114.31BMarket cap
12.92×Forward P/E
3.49%Dividend yield
$179.11Average target, 4.1% below price
Five-session ACN rebound
* Intraday at 10:45 EDT. The six-point move is +9.9% from August 17.
KPMG Australia division growth, FY26
Listed peer screen
| Company | Ticker | Last | Move |
|---|---|---|---|
| Accenture | ACN | $186.81 | +0.82% |
| IBM | IBM | $232.08 | −1.53% |
| Cognizant | CTSH | $61.90 | +0.05% |
| EPAM Systems | EPAM | $111.86 | +1.37% |
Accenture Q3 FY26 operating read-through
| Metric | Result |
|---|---|
| Revenue growth, local currency | +3% |
| Consulting revenue growth | +1% |
| Managed services growth | +5% |
| Operating margin | 17.0% |
| New bookings | −2% |
ACN analyst recommendation mix
Consensus remains Buy across 27 analysts. Yet the $179.11 average target sits below the live price.
Investor read
Why ACN is rising: the stock’s 9.9% rebound since August 17 suggests investors see listed consulting franchises as more resilient than KPMG Australia’s local contraction. Accenture still posted 3% local-currency growth and a 17% operating margin.
What could reverse it: KPMG’s 16.9% consulting decline confirms weak discretionary demand. Accenture’s bookings fell 2%, while the average analyst target is already 4.1% below the market price.
Sources: Reuters, ABC News Australia, KPMG Australia, Accenture, StockAnalysis: ACN and analyst forecast.
Peer timestamps on August 24, 2026: ACN 10:45 EDT; IBM 10:35 EDT; CTSH 10:30 EDT; EPAM 10:47 EDT. Prices are intraday and may change. KPMG Australia is privately held; ACN is a sector proxy, not a direct valuation equivalent.
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