KPMG Australia is preparing to axe hundreds more staff within weeks as the fallout from its whistleblower scandal, and government work ban, continues to hit its business.
The embattled firm declined to comment on a report from The Australian Financial Review that up to 400 staff would lose their jobs, but sources confirm that KPMG’s consulting boss Brad Miller told staff of the cuts last week and said these employees would be out the door “within weeks”.
Departing staff could be paid the statutory minimum as they are forced out the door with as little as 12 weeks pay for 10 years of service. The redundancy payout can vary according to contract agreements and notice periods.
This contrasts with the payouts received by former chief executive Andrew Yates, and former chairman Martin Sheppard who were forced to resign over their handling of the whistleblower scandal.
A recent report from KPMG showed Yates’ payout was far more than what had been revealed in a Senate inquiry this year. Yates, who resigned in May, was paid a total of $6.7 million including $4.38 million in retirement payments, in lieu of notice and leave.
Sheppard received $1.82 million, including more than $131,000 in “performance-based” payments.
The firm’s former chief operating officer Eileen Hoggett is suing KPMG after being stripped of any benefits – including accrued annual leave – and sacked in July after investigations found evidence she had accessed sensitive Lendlease board documents and kept them in...
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