KPMG to Lay Off 4% of U.S. Advisory Workforce

Ah, the consulting industry's enduring talent pyramid scheme finally shows a crack. KPMG, one of the Big Four accounting firms, is laying off 4% of its U.S. The official reason? 'Weaker demand for regulatory and other services.' Translation: clients have finally realised that paying £500 an hour for a 25-year-old fresh off a PowerPoint course doesn't magically solve their AI compliance problems.

This is exactly the kind of trim that gets cheered by investors but tells a grim story: the advisory boom that rode on regulatory tailwinds — post-2008, GDPR, ESG, now AI — is hitting a wall. KPMG is merely the first domino. The other Big Three (Deloitte, EY, PwC) will follow, because the underlying demand math is the same. And when consulting layoffs start, they cascade into less flexible industries. The partners will still take home their seven-figure draws, of course, while the newly 'redundant' senior associates scramble to find a tech job that hasn't been automated.

So raise a glass to the efficiency gains of the advisory market. KPMG's move is a leading indicator: if the people who sell AI transformation advice are being shown the door, what does that say about the actual transformation? The punchline is coming, and it won't be delivered by a consultant. Just a cold, automated email from HR.