KPMG, Ernst & Young not hiring

News Article - 18 September 2008
Category: Business

KPMG and Ernst & Young have said that recruitment - outside of senior or technical roles - is not part of their current business plans.

However, KPMG will go ahead with the recruitment of 1,000 graduates this week, Accountancy Age reports.

Recently, there were around 70 redundancies in corporate finance and transaction services, which were blamed on the markets in merger and acquisition activity.

"Corporate activity in general has slowed down significantly. Other firms are reflected by the same market conditions. We're not unique or immune," a KPMG spokesman told the website.

However, the other "Big Four" firms, PwC and Deloitte, said that they had no plans to freeze recruitment at the current time.

PwC is currently administering Lehman Brothers and has as many as 80 experts working on its records.

The collapse of Lehman Brothers is the biggest in the UK since Rover in 2005 and saw 5,000 jobs lost in the City.

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