KPMG chief executive John Sams has halved the cost of the firm’s ranks of senior partners to $13 million a year as part of a cost-cutting program triggered by its document misuse scandal and a tough consulting market.
The firm’s confidential list of partner bands for this financial year, circulated internally on Monday evening, shows the number of partners with a band of 11 or higher has dropped from 17 in the past year to about 10.
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