Business
KPMG to repay portion of salary cut as revenue defies downturn – The Australian Financial Review
KPMG said staff will only lose 5.6 per cent of their pay in its annualised salary cut, down from the original 6.7 per cent planned reduction, thanks to better than expected revenue in the final quarter despite the COVID-19 downturn.
KPMG partners also took a profit cut of 17 per cent, while Deloitte partners have taken a profit cut of at least 20 per cent.
The cuts, along with other sweeping cost reductions, were designed to pr…
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