KPMG to cut 5% of US jobs in fresh round of layoffs

KPMG is laying off 5% of its U.S. employees after feeling the pinch of "economic headwinds, coupled with historically low attrition," a spokesperson for the Big Four accounting giant said on Monday.The firm had over 39,000 employees in the U.S. at the end of its last fiscal year on Sept. 30.

KPMG, which cut about 2% of its U.S. workforce in February as per a Financial Times report.We do not take this decision lightly. However, we believe it is in the best long-term interest of our firm and will position us for continued success into the future," KPMG said in an emailed statement.Several companies have trimmed their headcount to batten down the hatches in anticipation of a potential economic downturn later in the year.In April, Ernst & Young's U.S. division shed 5% of its workforce. Deloitte had also reported to have slashed jobs.